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

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

Apisak Phromfaiy, Natita Wangsoh, Prayoon Surin
Copyright: © 2022 |Volume: 13 |Issue: 1 |Pages: 23
ISSN: 1947-8283|EISSN: 1947-8291|EISBN13: 9781799885405|DOI: 10.4018/IJAMC.292514
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MLA

Phromfaiy, Apisak, et al. "An Optimal Production Plan for Cashew Nuts Community Enterprise Using Metaheuristic Algorithms." IJAMC vol.13, no.1 2022: pp.1-23. http://doi.org/10.4018/IJAMC.292514

APA

Phromfaiy, A., Wangsoh, N., & Surin, P. (2022). An Optimal Production Plan for Cashew Nuts Community Enterprise Using Metaheuristic Algorithms. International Journal of Applied Metaheuristic Computing (IJAMC), 13(1), 1-23. http://doi.org/10.4018/IJAMC.292514

Chicago

Phromfaiy, Apisak, Natita Wangsoh, and Prayoon Surin. "An Optimal Production Plan for Cashew Nuts Community Enterprise Using Metaheuristic Algorithms," International Journal of Applied Metaheuristic Computing (IJAMC) 13, no.1: 1-23. http://doi.org/10.4018/IJAMC.292514

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Abstract

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.