Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
482198 | European Journal of Operational Research | 2008 | 15 Pages |
Abstract
The economic lot scheduling problem (ELSP) is a well known problem that focuses on scheduling the production of multiple items on a single machine such that inventory and setup costs are minimized. In this paper, we extend the ELSP to include price optimization with the objective to maximize profits. A solution approach based on column generation is provided and shown to produce very close to optimal results with short solution times on a set of test problems. The results are discussed and recommendations for further research are provided.
Related Topics
Physical Sciences and Engineering
Computer Science
Computer Science (General)
Authors
Luciano Salvietti, Neale R. Smith,