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LIFO IN GREEN SUPPLY CHAIN INVENTORY MODEL OF AUTO-COMPONENTS INDUSTRY WITH WAREHOUSES USING DIFFERENTIAL EVOLUTION

LIFO, which stands for last-in-first-out, is a method of inventory valuation that assumes that the last items placed in inventory were sold for the first time during the accounting year. This paper reports on a method based on Differential Evolution to optimize LIFO in green supply chain inventory management of Auto-components industry. In particular, we focus on determining the most likely level of surplus stock and shortage required for LIFO in green supply chain stocks of Auto-components industry so that the total cost of the supply chain is minimized. We apply our three-phase LIFO methods to a green supply chain inventory model of Auto-components industry studied for optimization.