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A New Hybrid Optimization Algorithm to Solve Lot Sizing Problems
| Content Provider | Semantic Scholar |
|---|---|
| Author | Dishan, Brad |
| Copyright Year | 2018 |
| Abstract | Inventory management is a completely crucial feature that determines the fitness of the deliver chain as well as the influences the economic fitness of the balance sheet. it is an idle inventory of physical items that contain financial fee, and is held in numerous bureaucracy via an company in its custody looking forward to packing, processing, transformation, use or sale in a future point of time .Improper inventory management leads to loss. Those losses can be minimized/eliminated through Lot Sizing technique which will help in proper maintenance if inventory management. Lot sizing (or batching) is the manner of enhancing the net requirement portions before they're translated into deliberate orders in a material requirement planning system. If net requirements have been translated directly into deliberate orders, it would bring about manufacturing component schedules and purchasing schedules that did now not take any account of the fee of system setups or the value of ordering. To take account of the whole expenses of dealing with the materials, i.e., holding expenses and ordering or setup expenses, batchsizing policies or ordering rules may additionally need to be implemented to the net requirements to provide planned orders for the producing or purchasing of items. Many heuristic strategies have been evolved in the past to solve lot sizing problems, however many of them were failed in its successful implementation. The present works aims to discover most appropriate inventory plan, which take the minimization of general setup expenses and inventory holding prices. On this undertaking, Hybrid algorithm has been applied to clear up the problems and triumph over the issues. |
| Starting Page | 2978 |
| Ending Page | 2987 |
| Page Count | 10 |
| File Format | PDF HTM / HTML |
| DOI | 10.22214/ijraset.2018.3651 |
| Alternate Webpage(s) | https://www.ijraset.com/fileserve.php?FID=15193 |
| Alternate Webpage(s) | https://www.ijraset.com/print-certificate.php?member=15193 |
| Alternate Webpage(s) | https://doi.org/10.22214/ijraset.2018.3651 |
| Volume Number | 6 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
