A mobile phone store simulation model using Particle Swarm Optimization

Abstract

In the business of selling mobile phones the number of units in the inventory and the specification of the components of the mobile phone play an important role in the success of the business. Ideally, it is good for the mobile phone shops to display different models in their stores and have stocks of these models in order to attract customers. However, the problem in that concept is stocking inventory will cost a lot of money. Mobile phone stores often have limited resources so it is ideal to balance the quantity and specification of their units. Given the budget constraint, the specifications of the parts of the mobile phones that will be purchased have to be optimized. The owners of mobile phone stores often do it manually and without scientific basis which lead to inefficiency. This research shows a scientific approach in minimizing the average annual cost of ordering and storing mobile phone sets. This is done by using Particle Swarm Optimization in purchasing the number of units and the specifications of their components.