An analysis of multi-item inventory model using particle swarm optimization under discrete delivery orders and limited storage space

Öztürk H. , Şenel F. A.

International Journal of Intelligent Systems and Applications in Engineering (IJISAE), vol.7, no.3, pp.124-132, 2019 (Refereed Journals of Other Institutions)

  • Publication Type: Article / Article
  • Volume: 7 Issue: 3
  • Publication Date: 2019
  • Doi Number: 10.18201/ijisae.2019355374
  • Title of Journal : International Journal of Intelligent Systems and Applications in Engineering (IJISAE)
  • Page Numbers: pp.124-132


This study explores an economic production quantity (EPQ) model designed with the assumptions of discrete delivery orders
and storage capacity c
onstraints for a multi
item production inventory system. The main purpose of this study is to determine the optimal
order quantity, the optimal number of deliveries and the optimal delivery quantity. First, the developed model as part of thi
s study
analyzed using Genetic Algorithm (GA). Numerical analysis results
compared with those of previous studies and it was found that it is
possible to have better results with an increasing number of iteration. The same model
then analyzed using Particle
Swarm Optimization
(PSO) algorithm. A comparison of the optimization methods showed that PSO gives better results over the GA under the same num
ber of
iterations and using the same population. The effects of important model parameters such as number of it
erations, population, crossover,
mutation rate on the optimal solution
analyzed. The results showed that PSO performs better than the GA with respect to the total cost
and the total runtime as the solution of the problem in question.