Abstract
Background: The inventory control practice of deteriorating food products that are subject to an expiration date is a challenging process. Inappropriate inventory control practice leads to substantial waste of products and significant holding and purchasing costs. Purpose: This paper aims to develop an inventory control model-based Genetic Algorithm (GA) to minimize the Total Annual Inventory Cost (TAIC) function developed explicitly for the proposed model. Methodology: GA is used and tailored to provide the best reorder level of deteriorating food products. A case study of one of the five-star hotels in Iraq is conducted, followed by a sensitivity analysis study to validate the proposed model for varying reorder levels. Results and Conclusion: A minimum inventory cost is obtained with an optimum reorder level achieved by running GA. It is concluded that the optimal reorder level provided by the proposed GA minimized the monthly inventory cost of products.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.