A Continuous Review inventory Control Model within Batch Arrival Queuing Framework: A Parameter-Tuned Imperialist Competitive Algorithm

Subject Areas : Tectonostratigraphy

Mohammad Alaghebandha ¹ , Seyed Hamid Reza Pasandideh ² , Vahid Hajipour ³

1 - Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, Iran
2 - Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, Iran
3 - Young Researchers Club, Qazvin Branch, Islamic Azad University, Qazvin, Iran

Received: 2011-09-12 Accepted : 2012-03-22 Published : 2012-09-30

Keywords: Queuing theory, simulated annealing, Continues review Inventory control, Imperialist Competitive Algorithm,

Abstract :

In this paper, a multi-product continues review inventory control problem within batch arrival queuing approach (MQr/M/1) is modeled to find the optimal quantities of maximum inventory. The objective function is to minimize summation of ordering, holding and shortage costs under warehouse space, service level, and expected lost-sales shortage cost constraints from retailer and warehouse viewpoints. Since the proposed model is Np-Hard, an efficient imperialist competitive algorithm (ICA) is proposed to solve the model. To justify proposed ICA, a simulated annealing algorithm has been utilized. In order to determine the best value of algorithms parameters that result in a better solution, a fine-tuning procedure is executed. Finally, the performance of the proposed ICA is analyzed using some numerical illustrations.