Achin Srivastav, Sunil Agrawal
Intelligent Automation & Soft Computing, Vol.24, No.2, pp. 343-350, 2018, DOI:10.1080/10798587.2017.1293891
Abstract This paper focuses on the development of a multi-objective lot size–reorder point backorder inventory
model for a slow moving item. The three objectives are the minimization of (1) the total annual relevant
cost, (2) the expected number of stocked out units incurred annually and (3) the expected frequency of
stockout occasions annually. Laplace distribution is used to model the variability of lead time demand.
The multi-objective Cuckoo Search (MOCS) algorithm is proposed to solve the model. Pareto curves are
generated between cost and service levels for decision-makers. A numerical problem is considered on
a slow moving item to illustrate the… More >
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