An Optimal Production Plan for Cashew Nuts Community Enterprise Using Metaheuristic Algorithms

The proper production plan plays an important role in the cashew nuts market enterprise in order to reduce cost. This study aims to find the optimal production plan for cashew nuts using ant lion optimization (ALO), symbiotic organisms search (SOS), particle swarm optimization (PSO) and artificial b...

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Bibliographic Details
Published in:International journal of applied metaheuristic computing 2022-06, Vol.13 (1), p.1-23
Main Authors: Phromfaiy, Apisak, Wangsoh, Natita, Surin, Prayoon
Format: Article
Language:English
Subjects:
Algorithms
Aluminum compounds
International economic relations
Mathematical optimization
Nut industry
Nuts
Production management
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Summary:The proper production plan plays an important role in the cashew nuts market enterprise in order to reduce cost. This study aims to find the optimal production plan for cashew nuts using ant lion optimization (ALO), symbiotic organisms search (SOS), particle swarm optimization (PSO) and artificial bee colony algorithm (ABC). The novel objective function is introduced in this study. Three input data set, including production cost, holding cost and inventory quantity are investigated. The experiment cases consist of the frequency of production cycle time in January, February and March, respectively. As a results, four algorithms are available to estimate not only the proper production plan of cashew nuts but also an ability in reducing the inventory and the holding costs. In summary, the ALO algorithm provides better predictive skill than others for the cashew nuts production plan with the lowest RMSE value of 0.0913.
ISSN:1947-8283
1947-8291
DOI:10.4018/IJAMC.292514