A Hybrid Genetic and Imperialist Competitive Algorithm to Optimize a Multi-Product Multi-Constraint EOQ Model

This research formulates a multi-product economic order quantity (EOQ) problem with an order-quantity-dependent permissible delay in Payment. It should be mentioned that, in business transactions, sometimes customers are allowed to pay in a grace period, i.e., permissible delay in payment occurs. The amount of discount and thelength of the grace period depend on the order quantity and all the costs increase by an inflation rate. Moreover, the shortage is backlogged andthe limited warehouse space leads to a constraint for storage. In order to make the model more applicable to real-world production and inventorycontrol problems, we expand this model by assuming a multi-product economic order quantity problem with limited warehouse-space andcapital limitation. Thus, the problem of this paper is a constrained nonlinear-integer program (NIP) and we propose a hybrid genetic andimperialist competitive algorithm (HGA) to find a near-optimum solution with the objective of minimizing the total cost of the supplychain. A numerical example is presented to demonstrate the application of the proposed methodology.

کلیدواژه ها:

Genetic algorithm ، Imperialist Competitive Algorithm ، Economic order quantity ، Mathematical modeling