A Genetic Algorithm Applying Single Point Crossover and Uniform Mutation to Minimize Uncertainty in Production Cost

Efficient and effective management of production cost is carried out by identifying the uncertainty in production planning in supply chain. Thus the determination of the uncertainty factors at various levels in a supply chain becomes inevitable so as to ensure minimal Cost for the manufacturing process. Minimizing the total supply chain cost is meant for minimizing labour, material and minimizing cost in the entire supply chain. The minimization of the total production cost can only be achieved when is carried out at each member of the production chain. For production planning, one typically needs to determine the variable production costs, including manufacturing costs, Labor cost, materials cost, inventory holding costs and any relevant resource acquisition costs. A serious issue in the implementation of the same is that cost level is not static for every period and for every category. In this paper, we have developed a new and efficient approach that works on Genetic Algorithms in order to minimize production cost.