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Journal Article
Offsetting Inventory Cycles using Mixed Integer Programming and Genetic Algorithm
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- Authors
- I.K. Moon, B.C.Cha, S.K.Kim
- Issue Date
- 2008-09
- Citation
- International Journal of Industrial Engineering, v.15, no.3, pp.245-256
- ISSN
- 1072-4761
- Publisher
- Springer
- Language
- English
- Type
- Journal Article
- Abstract
- We propose a mixed integer programming model to minimize the maximum storage space requirement over an infinite time horizon by offsetting the inventory cycles of items. We also develop a genetic algorithm to find the near-optimal solution. The mixed integer programming model and the genetic algorithm produce better results than the existing heuristic. We also develop a mixed integer programming model for the finite time horizon; this model is more general and realistic than that for the infinite time horizon. A warehouse management system is designed based on the algorithms we developed.
- KSP Keywords
- Finite time horizon, Mobile IP(MIP), Space requirements, Storage space, Warehouse Management System, genetic algorithms(NSGA II), mixed integer programming model, optimal solution