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A constrained multi-products EPQ inventory model with discrete delivery order and lot size

Cardenas-Baron, Leopoldo and Trevino_Garza, Gerardo and Widyadana, I Gede Agus and Wee , Hui Ming (2014) A constrained multi-products EPQ inventory model with discrete delivery order and lot size. Applied Mathematics and Computation, 230. pp. 359-370. ISSN 0096-3003

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    Abstract

    This paper proposes an alternative heuristic algorithm for a multi-product Economic Production Quantity (EPQ) vendor–buyer integrated model with Just in Time (JIT) philosophy and a budget constraint. This type of problem is usually solved by a Mixed Integer Non Linear Problem (MINLP), which is complex and computationally expensive. The proposed heuristic algorithm involves less computation and therefore it is less expensive than the previously published algorithms. Furthermore, the heuristic algorithm is simpler as it derives the integer values for all discrete variables in a straightforward manner. Through empirical experimentation, it is demonstrated that the heuristic algorithm provides solutions closer to the lower bound in a very short time.

    Item Type: Article
    Subjects: T Technology > TS Manufactures
    Divisions: Faculty of Industrial Technology > Industrial Engineering Department
    Depositing User: Dr I Gede Agus Widyadana
    Date Deposited: 18 Feb 2014 11:39
    Last Modified: 18 Feb 2014 11:39
    URI: http://repository.petra.ac.id/id/eprint/16471

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