Hybrid meta-heuristic-based inventory management using block chain technology in cloud sector

Abstract

This paper plans to develop an inventory management model in the supply chain with cloud and block chain assistance. This paper considers the inventory management of a supply chain that involves multiple suppliers, manufacturers, and distributers. The data management is done by the block chain technology, where each distributer holds a hash function to store its data, which cannot be restored by the other distributers. The proposed model intends to reduce the multi-objective inventory cost involving transaction cost, inventory holding cost, shortage cost, transportation cost, and time cost. The hybridisation of two meta-heuristic algorithms like spider monkey optimisation (SMO) and sea lion optimisation (SLnO) termed as spider monkey local leader-based sea lion optimisation algorithm (SMLL-SLnO) is used to improve the inventory management model. Finally, the feasibility and effectiveness of the proposed optimisation model are validated by comparing over the other traditional models.