Economic dispatch problem is an optimization problem where objective function is highly non linear, non-convex, non-differentiable and may have multiple local minima. Therefore, classical optimization methods may not converge or get trapped to any local minima. This paper presents a comparative study of four different evolutionary algorithms i.e. genetic algorithm, bacteria foraging optimizatio...

This paper presents a simple algebraic approach for deriving the optimal lot size for economic production quantity (EPQ) model with rework process. Conventional methods for solving lot size problems are by using differential calculus on the long-run average production-inventory cost function with the need to prove optimality first. A few recent articles proposed the algebraic approach to the so...

In the classical inventory models, the common unrealistic assumption is that all the items produced are of good quality in nature. However, in realistic environment, it can be observed that there may be some defective items in an ordered lot. These items are usually picked up during the screening process and are sold as a single lot at the end of screening process. Further, it is tacitly assume...

A real economic growth only comes from increasing quality and quantity of the factors of production. Most production systems produce items which are of imperfect quality. In a production/inventory situation items which are received or produced are not of perfect quality. Thus the presence of defects which is inevitable in a produced/ordered lot is sorted out by the process of screening. Handlin...

The classical Economic Order Quantity (EPQ) models consider that the production rate is fixed and constant. But in many manufacturing and production processes the production rate is a function of stock on hand. For this sort of situations we develop and analyze an EPQ model with the assumption that the production rate is a function of the on-hand inventory and demand is a function of selling pr...

The scope of this paper is to focus on cost effective, reliable and eco-friendly operation of power system. Power is key to economic development of any country especially fast developing countries like India. In the global environment, no country can be competitive unless, it has adequate and affordable power availability. Economic load dispatch is vital component in the operation of power syst...

This work presents the definition and solution of an optimization model using techniques based on the Particle Swarm Optimization (PSO) algorithm or the Particle Swarm Optimization and Genetic Algorithms. The model corresponds to the Joint Replenishment Problem in a system operating with quantity discounts. Results are shown in problems, where their size makes it difficult or impossible to esta...

in this paper, a chaotic particle swarm optimization with mutation-based classifier particle swarm optimization is proposed to classifypatterns of different classes in the feature space. the introduced mutation operators and chaotic sequences allows us to overcomethe problem of early convergence into a local minima associated with particle swarm optimization algorithms. that is, the mutationope...

The economic order quantity (EOQ) model is the simplest and earliest inventory model in the literature. Its simple mathematics is attributed to its assumptions, which are rarely met. Salameh and Jaber [2000. Economic production quantity model for items with imperfect quality. Int. J. Prod. Econ. 64, 59–64] addressed one of these assumptions that items received or produced are not of perfect qua...

In general, traditional production-inventory systems are based on a number of simplifying – but somewhat unrealistic – assumptions, including constant demand rate, constant holding cost, and instantaneous order replenishment. These assumptions have been individually challenged in numerous variations of production-inventory models. Finite production rate models, such as economic production quant...