Abstract
One of the important works of supply chain management is the optimal inventory control. The optimal inventory control techniques plan to minimize the supply chain cost by efficiently managing the inventory. This paper tactics to analyze the influence of hybrid Multi-Verse Optimization (MVO) and Whale Optimization Algorithm (WOA) termed as Whale-based Multi-Verse Optimization Algorithm (W-MVO) on optimal inventory management in block chain under cloud sector. The costs like transaction cost, inventory holding cost, shortage cost, transportation cost, time cost, setup cost, back-ordering cost and quality improvement cost are considered for deriving the multi-objective model. The effectiveness of the proposed hybrid algorithm is analyzed by varying Travelling Distance Rate (TDR) from 0.2 to 1.2, and the model is evaluated with the assistance of block chain under the cloud sector.
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