Hybrid Metaheuristics Algorithms for Inventory Management Problems

The hybrid metaheuristics algorithms (HMHAs) have gained a considerable attention for their capability to solve difficult problems in different fields of science. This chapter introduces some applications of HMHAs in solving inventory theory problems. Three basic inventory problems, joint replenishment EOQ problem, newsboy problem, and stochastic review problem, in certain and uncertain environments such as stochastic, rough, and fuzzy environments with six different applications, are considered. Several HMHAs such as genetic algorithm (GA), simulated annealing (SA), particle swarm optimization (PSO), harmony search (HS), variable neighborhood search (VNS), and bees colony optimization (BCO) methods are used to solve the inventory problems. The proposed metaheuristics algorithms also are combined with fuzzy simulation, rough simulation, Pareto selecting and goal programming approaches. The computational performance of all of them, on solving these three optimization problems, is compared together. DOI: 10.4018/978-1-4666-2086-5.ch011

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