Unleashing an ML-based selection criteria for economic lot sizing in a smart batch-type production system

What is it about?

In the upcoming Industry 4.0 enviornments, there will be number of Inventory Aspects which must be taken care of simultaneously, and this complex requirement will not be met from any single Inventory Control Model. We may need a certain Model in a certain inventory situation and best fit model will be changed as the attributes varied. This paper is an effort to help practitioners to recognise suitable models in various conditions for minimum possible inventory carrying cost by a well structured ML based algorithm.

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