Title: Multi-item two warehouse inventory model for deteriorating item under partial credit period via contractive mapping genetic algorithm and PSO

Authors: Ashoke Kumar Bera; Dipak Kumar Jana; Debamalya Banerjee; Titas Nandy

Addresses: Department of Mechanical Engineering, Haldia Institue of Technology, Haldia, Purba Midnapur – 721657, West Bengal, India ' Department of Engineering Science, Haldia Institute of Technology, Haldia, Purba Midnapur – 721657, West Bengal, India ' Department of Production Engineering, Jadavpur University, Jadavpur, Kolkata – 700032, West Bengal, India ' Department of Mechanical Engineering, Jadavpur University, Jadavpur, Kolkata – 700032, West Bengal, India

Abstract: Present study proposes a two warehouse ordering policy for multi-product, deteriorating items when demand is stock and selling price dependent. It is assumed that the supplier offers a full and partial trade credit for a certain fixed period to entice more customers. A retailer has its own warehouse (OW) W1 of finite capacity at the central location in the city and a rented warehouse (RW) W2 of infinite capacity situated just outside the city. Units are continuously transferred from warehouse W2 to warehouse W1 and sold from warehouse W1. The objective of this work is to maximise the profit for different models by using contractive mapping genetic algorithm (CMGA) and particle swarm optimisation (PSO). The order quantity, selling price and refilling point at the first warehouse are considered as the decision variables to maximise the objective. Mathematical models are formulated by using two heuristic techniques and illustrated with a numerical example.

Keywords: multi-product; two warehouse; stock dependent demand; deterioration; permissible delay in payment; contractive mapping genetic algorithm; CMGA; particle swarm optimisation; PSO.

DOI: 10.1504/IJLSM.2021.114758

International Journal of Logistics Systems and Management, 2021 Vol.38 No.4, pp.425 - 458

Accepted: 26 May 2019
Published online: 05 May 2021 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article