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With information revolution, increased globalization and competition, supplychain has become longer and more complicated than ever before. Thesedevelopments bring supply chain management to the forefront of the managementsattention. Inventories are very important in a supply chain. The totalinvestment in inventories is enormous, and the management of inventory iscrucial to avoid shortages or delivery delays for the customers and seriousdrain on a companys financial resources. The supply chain cost increasesbecause of the influence of lead times for supplying the stocks as well as theraw materials. Practically, the lead times will not be same through out all theperiods. Maintaining abundant stocks in order to avoid the impact of high leadtime increases the holding cost. Similarly, maintaining fewer stocks because ofballpark lead time may lead to shortage of stocks. This also happens in thecase of lead time involved in supplying raw materials. A better optimizationmethodology that utilizes the Particle Swarm Optimization algorithm, one of thebest optimization algorithms, is proposed to overcome the impasse inmaintaining the optimal stock levels in each member of the supply chain. Takinginto account the stock levels thus obtained from the proposed methodology, anappropriate stock levels to be maintained in the approaching periods that willminimize the supply chain inventory cost can be arrived at.

Efficient Inventory Optimization of Multi Product, Multiple Suppliers with Lead Time using PSO