Inventory Optimization

• Inventory optimization for a process which inherently produces byproducts.
• Byproducts at times may be expensive to store in perishable product types in food processing, meat packaging, chemical/pharmaceuticals, etc.
• In these cases 100% demand satisfaction may not be the most optimal choice of production plan. A trade off needs to be decided between achieving profits by 100% demand satisfaction and at the same time incurring storage costs.
• Optimization problems like this are also known as Imbalance Parts optimization
• The case used in this project is specific to meat packaging.

Directions

1. Set the start_params.ini file to the required values

2. Execute main program to run the model instance:

   • In the working directory execute : python3 src/main_program.py --scenario_id *
   • Note : * is a placeholder for * belongs to set {1,2}