Multi-objective Particle Swarm optimization and Genetic algorithm in Inventory model for deteriorating items with shortages using Supply Chain management

Abstract A develops a supply chain inventory model for deteriorating items in a Manufacture, warehouse, distribution centers, and Retailer's environment. Demand is assumed to be known and constant. Shortages are allowed. A warehouse is used to store the excess units over the fixed capacity of the distribution centers. Further the application of supply chain inventory model using Genetic algorithm and Particle Swarm optimization dispatching policies has been investigated in different scenarios in the model. Comparative study of two models has also been performed with the help of a numerical example. A comprehensive sensitivity analysis has also been carried out to advocate the implication of supply chain inventory model using Genetic algorithm and Particle Swarm optimization dispatch policy.