The bidding selection and assignment problem with minimum quantity commitment

The bidding selection and assignment problem with minimum quantity commitment

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Article ID: iaor2009744
Country: United Kingdom
Volume: 59
Issue: 5
Start Page Number: 693
End Page Number: 702
Publication Date: May 2008
Journal: Journal of the Operational Research Society
Authors: , ,
Keywords: bidding, transportation: water, heuristics, lagrange multipliers, programming: linear
Abstract:

This paper studies the bidding selection and assignment problem with a novel constraint, namely minimum quantity commitment (MQC), motivated by the Royal Philips Electronics Company. Responding to the stipulations by the US Federal Maritime Commission, any shipping agent transporting to the US must satisfy a minimum quantity of containers. To insure this MQC for shipping agents, the Royal Philips Electronics Company, with a large number of shipping needs, has to assign enough containers to each selected shipping agent to transport cargos to the US. This restriction creates difficulties for Philips as the company seeks to satisfy its shipping needs with minimum total costs. To solve this problem, we first formulate it by a mixed-integer programming model.

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