A novel mathematical model for a multi-period, multi-product optimal ordering problem considering expiry dates in a FEFO system
S.M.J. Mirzapour Al-e-hashem,
K. Govindan and
Transportation Research Part E: Logistics and Transportation Review, 2016, vol. 93, issue C, 232-261
One of the main challenges of retail units is to determine the order quantities of different types of products, each with a specific expiry date, so that the system cost including shortage cost is minimized. We study a new multi-product multi-period replenishment problem for a First Expired-First Out (FEFO) based warehouse management system. The proposed nonlinear model is first converted to a linear one and then solved by applying two evolutionary algorithms: the Genetic Algorithm (GA) and Particle Swarm Optimization (PSO), in which design parameters are set using Taguchi method. Computational results demonstrate the applicability of the proposed model for perishable items and comparing the results shows the efficiency of the proposed metaheuristics as well.
Keywords: Optimal replenishment policy; Expiry date; Perishable items; Integer programming; Genetic algorithm; Particle swarm optimization (search for similar items in EconPapers)
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