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A Modified Genetic Algorithm to Optimize A Multi-item Inventory System with Random Demands and Stochastic Lead Time

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5 Author(s)
Hou-qing Lu ; Eng. Inst. of Eng. Corps, PLA Univ. Sci. & Tech., Nanjing ; Zhi-min Wu ; Qin Yu ; Rui-xin Han
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Multi-item inventory systems with stochastic demands and lead time are studied to reduce operation costs and use resources effectively. In order to reach minimal costs in the long run, a (s ,S) model based on stochastic demands and lead time is advanced, A modified genetic algorithm based on minimal gene segment coding, two generations competition and adaptive selection was developed to solve the problem, a M-C statistical testing method was presented to compute adaptive values, which significantly improve warehouse and capital management. The result of the modified genetic algorithm shows that over 7% operation costs is saved compared with the result of random generated

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Intelligent Control and Automation, 2006. WCICA 2006. The Sixth World Congress on  (Volume:1 )

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