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Application of particle swarm optimization approach in the inflationary inventory model under stochastic conditions
Islamic Azad University, Saveh Branch, Iran.
Luleå University of Technology, Sweden.ORCID iD: 0000-0002-8524-3321
Islamic Azad University, Karaj Branch, Iran.
2012 (English)In: Proceedings of The 2nd International Workshop and Congress on eMaintenance eMaintenance, 2012, 125-131 p.Conference paper (Refereed)
Abstract [en]

This paper presents the inventory model considering inflation under non-deterministic situations, which can be used for arbitrary probability density function (pdf), for the inflation rate. We used two solution methods for determining the optimal ordering policy: (1) classical optimization method and (2) particle swarm optimization (PSO) method with comparing the results. The shortages are allowed and fully backlogged. A constant fraction of the on-hand inventory deteriorates per unit time, as soon as the item is received into inventory. The numerical examples are provided to explore the correctness of theoretical results, which are further clarified through a sensitivity analysis on the parameters of the model.

Place, publisher, year, edition, pages
2012. 125-131 p.
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:mdh:diva-26434ISBN: 978-91-7439-539-6 (print)OAI: oai:DiVA.org:mdh-26434DiVA: diva2:760338
Conference
The 2nd International Workshop and Congress on eMaintenance eMaintenance, 12-14 Dec 2012, Luleå, Sweden
Available from: 2014-11-03 Created: 2014-10-31 Last updated: 2014-11-03Bibliographically approved

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http://pure-test.ltu.se:8080/portal/files/41489674/Proceedings_eMaintenance_2012.pdf

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Ahmadzadeh, Farzaneh
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Citation style
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