Title :
Optimizing a Stochastic Warehouse using Particle Swarm Optimization
Author :
Brodersen, O. ; Schumann, M.
Author_Institution :
Univ. of Goettingen, Gottingen
Abstract :
Particle Swarm Optimization is a population based search strategy based on the idea of the simulation of bird flocks. In this paper we will introduce an application of the PSO to a management problem. The simulated stochastic 2-product-warehouse with the parameters order amount and safety stock is a capital oriented model with the goal to maximize the amount of money. PSO finds better values for order amount and safety stock compared to a partial enumeration of the problem parameters.
Keywords :
inventory management; particle swarm optimisation; search problems; stochastic processes; warehousing; PSO population based search strategy; management problem; particle swarm optimization; simulated stochastic 2-product-warehouse; Birds; Concrete; Costs; Management information systems; Optimization methods; Particle swarm optimization; Procurement; Product safety; Stochastic processes; Stochastic systems;
Conference_Titel :
Innovative Computing, Information and Control, 2007. ICICIC '07. Second International Conference on
Conference_Location :
Kumamoto
Print_ISBN :
0-7695-2882-1
DOI :
10.1109/ICICIC.2007.434
