Author(s): Kumar, S., Yadav, A. S., Sharma, V., Ahlawat, N., & Govindarajan, A.
The main object of keeping inventories is to meet market demands using Ant Colony Optimization for Traveling Salesman Problem. Typically, retailers face a wide range of demands for different types of goods. These demands are not under the control of the organization using Ant Colony Optimization for Traveling Salesman Problem. In the present paper, demand taken as price dependent as power law form as well as time. The rate of deterioration and holding cost are considered also time dependent using Ant Colony Optimization for Traveling Salesman Problem. Shortages are allowed with partial backlogged using Ant Colony Optimization for Traveling Salesman Problem. Results are illustrated along with sensitivity analysis.