Inventory model for decay items with safe chemical storage and inflation using artificial bee colony algorithm

Ajay Singh Yadav, Anupam Swami, Navin Ahlawat, Geethanjali Kher and Sachin Kumar

International Journal of Applied Management Science, 2022, vol. 14, issue 1, 57-70

Abstract: A deterministic Safe Chemical Storage inventory model has been developed for the deterioration of items with increasing demand, with inflation effects on stocks using artificial bee colony algorithm. The Safe Chemical Storage has a fixed capacity of C units using artificial bee colony algorithm. Stock outs are allowed and partially deferred, and inventories are expected to deteriorate in excess of time with a changeable rate of deterioration using artificial bee colony algorithm. The inflation consequence has also been taken into account for the different costs of the Safe Chemical Storage inventory organisation. The numerical example is also used to examine the behaviour of the model using artificial bee colony algorithm. The cost minimisation technique is second-hand to get hold of the terms of total cost and other parameters using artificial bee colony algorithm.

Keywords: safe chemical storage; inflation; shortages; ramp time demand; deterioration items; ABCG; artificial bee colony algorithm. (search for similar items in EconPapers)
Date: 2022
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