Multi product inventory optimization in a multi echelon supply chain using Genetic Algorithm
Inventory management is very important area in the supply chain management. Excess stocks may lead to incurring holding costs while shortage of stocks lead to shortage costs. The problem becomes more complicated when several factories produce multiple products in multiple time periods and supplies to several distribution centers who in turn supply to various agents and customers. With the advances in information technology and computing methods the inventory management problem in a multi echelon supply chain can be solved reasonably well. This paper presents an approach an approach for the multi product inventory optimization in a multi echelon supply chain using Genetic Algorithm. This Paper presents an approach using genetic algorithm for inventory optimization for a supply chain employing multiple products to minimize the excess and shortage of stocks.