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https://doi.org/10.1061/(ASCE)IR.1943-4774.0001064

has been cited by the following article:

• TITLE: Application of the Firefly Algorithm for Optimal Production and Demand Forecasting at Selected Industrial Plant

  AUTHORS: Abdulhadi Altherwi

  KEYWORDS: Firefly Algorithm, Global Optimization, Production, Lindo

  JOURNAL NAME: Open Journal of Business and Management, Vol.8 No.6, November 16, 2020

  ABSTRACT: Many production companies continue to face financial difficulties. The main purpose of this paper is to present an effective method for these companies to maximize profits and minimize production costs. The problem presented here is initially developed as a linear programming model. To achieve the best results, the firefly algorithm (FA) is applied to solve the model and obtain an optimum solution. In order to test the efficiency of the algorithm, Lindo software is used, and the results of both algorithms are compared. A sensitivity analysis is applied to determine which products a company should produce in order to maximize profits. The result reveals that the FA, when compared with Lindo, can help achieve maximum profits by producing only one product, thus minimizing production costs. For demand forecasting, the moving average technique is used to determine future customer demand. The mean squared error method is used to choose the best forecast based on the historical data collected.