Home | Download | Purchase | knowledge

 
 


Inventory Control with Genetic Programming

In Germany, inventories are estimated to be worth of more than 500 billion $. To manage these inventories, numerousinventory-control policies have been developed in the last decades. These inventory-control policies are typically derived analytically, which is often complicated and time consuming. For many relevant settings, such as complex multi-echelonmodels, there exist no closed-form formulae to describe the optimal solution. Optimal solutions for those problems are determined by complex algorithms that require several iteration steps. With Genetic Programming (GP) however,inventory-control policies can be derived in a simple manner. GP is an algorithm related to Genetic Algorithms. It applies the principles of natural evolution to solve optimization problems. In this paper, we show how closed-formheuristics for a common inventory-control setting with periodic review can be found with GP.",