Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/14957
Title: A discrete EOQ problem with maximum order size costs
Authors: Kovalyov, MY
Cheng, TCE 
Kotov, V
Ng, CT 
Keywords: Algorithms
Inventory control
Issue Date: 2006
Source: IFAC Proceedings Volumes (IFAC-PapersOnline), 2006, v. 12, no. PART 1 How to cite?
Journal: IFAC Proceedings Volumes (IFAC-PapersOnline) 
Abstract: The Economic Order Quantity (EOQ) problem is a fundamental problem in supply and inventory management. An optimal solution to this problem in a closed form exists under the assumption that time and the product are continuously divisible. This paper studies problem D-EOQ, in which time and the product are discrete. Furthermore, in the objective function, there is a fixed cost for each order and a fixed cost for each product unit in an order of the maximum size. It is shown that the continuous relaxation of problem D-EOQ provides a solution that can be up to 50% worse than the optimal solution and this worst-case error bound is tight. Properties of an optimal solution of the problem D-EOQ are established. These properties allow to solve many special cases in polynomial time and can be used to derive a polynomial time algorithm for the general case of the problem D-EOQ.
Description: 12th IFAC Symposium on Information Control Problems in Manufacturing, INCOM 2006, and Associated Industrial Meetings: EMM'2006, BPM'2006, JT'2006, Saint - Etienne, 17-19 May 2006
URI: http://hdl.handle.net/10397/14957
ISBN: 9783902661043
ISSN: 1474-6670
Appears in Collections:Conference Paper

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