Management Science and Financial Engineering

  • 제13권1호
  • /
  • Pages.35-53
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  • 2007
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  • 2287-2043(pISSN)
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  • 2287-2361(eISSN)
한국경영과학회 (The Korean Operations Research and Management Science Society)
권호 표지

Solving Robust EOQ Model Using Genetic Algorithm

  • Lim, Sung-Mook (School of Business Administration, Korea University)
  • 발행 : 2007.05.31
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초록

We consider a(worst-case) robust optimization version of the Economic Order Quantity(EOQ) model. Order setup costs and inventory carrying costs are assumed to have uncertainty in their values, and the uncertainty description of the two parameters is supposed to be given by an ellipsoidal representation. A genetic algorithm combined with Monte Carlo simulation is proposed to approximate the ellipsoidal representation. The objective function of the model under ellipsoidal uncertainty description is derived, and the resulting problem is solved by another genetic algorithm. Computational test results are presented to show the performance of the proposed method.

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참고문헌

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