Engineering Commons^™

An Intelligent Computational Approach To The Optimization Of Inventory Policies For Single Company, Qinglin Duan

LSU Master's Theses

This study develops and tests a computational approach for determining optimal inventory policies for single company. The computational approach generally comprises of two major components: a meta-heuristic optimizer and an event-driven inventory evaluation module. Meta-heuristic is a powerful search technique, under the intelligent computational paradigm. The approach is capable of determining optimal inventory policy under various demand patterns regardless their distribution for a variety of inventory items. Two prototypes of perishability are considered: (1) sudden deaths due to disasters and (2) outdating due to expirations. Since every theoretical model is specially designed for a certain type of inventory problem while …