Swarm Intelligence and Bio-Inspired Computation

19

Improvement of PSO Algorithm by Memory-Based Gradient Search—Application in Inventory Management

Tamás Varga, András Király and János Abonyi,    Department of Process Engineering, University of Pannonia, Veszprém, Hungary

19.1 Introduction

In the last decades, optimization was featured in almost all aspects of human civilization, thus it has truly become an indispensable method. In some aspects, even a local optima can highly improve the efficiency or reduce the expenses, however, most companies want to keep their operational costs as low as possible, i.e., on global minimum. Problems where solutions must satisfy a set of constraints are known as constrained optimization problems. In inventory control theory, one of the most important ...