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Non-Separable Raw Material Inventory Model with Time Dependent Deterioration: Hybrid Algorithm
Abstract
In our present work we propose a non-separable inventory model to predict the shortage period of the multi-item raw material inventory with time dependent deterioration. Further we study two cases; economic ordering quantity and fixed initial investment, when cost function is non-separable. In order to solve the model we provide a hybrid algorithm developed form GA and FPA. The inventory model is illustrated by numerically. Analyze the average total cost under fluctuations of requirement functions is performed and results presented graphically.
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