Effective heuristics for multiproduct partial shipment models

Effective heuristics for multiproduct partial shipment models

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Article ID: iaor2008560
Country: United States
Volume: 54
Issue: 2
Start Page Number: 337
End Page Number: 352
Publication Date: Mar 2006
Journal: Operations Research
Authors: , ,
Keywords: programming: integer, heuristics
Abstract:

Motivated by real applications, we consider the problem of shipping products to multiple customers from limited inventory. After formulating the optimization problems under different restrictions on partial shipments, we find that commercially available packages, applied directly, are unsatisfactory, as are simple greedy approaches. We develop a scheme of heuristics that enables the user to select a good balance between computation time and effectiveness. A detailed computational study of one- and two-period industrial-sized problems indicates that these heuristics are computationally practical and generate solutions that are, on average, within 3%-4% of the optimum.

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