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Using AI approach to solve a supplier-buyer deteriorating inventory model under price decrease

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3 Author(s)
Muh-Lin Tsai ; Logistics Manage. Dept., Takming Univ. of Sci. & Technol., Taipei ; Yu, J.C.P. ; Lin, Y.S.

This study drives a two-echelon deteriorating inventory model where buyer is a price-leader. The rate of deterioration is assumed constant and demand increases with price decrease. We consider a varying rate of deterioration with a Weibull distribution and apply the compensation policy. The objective of the study is to maximize total supplier's profit. A genetic algorithm (GA) is developed to obtain the optimal lifecycle time. Numerical examples are given to validate the analysis of the models.

Published in:

Autonomous Robots and Agents, 2009. ICARA 2009. 4th International Conference on

Date of Conference:

10-12 Feb. 2009