Metaheuristics: A Canadian Perspective

Metaheuristics: A Canadian Perspective

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Article ID: iaor20112417
Volume: 46
Issue: 1
Start Page Number: 71
End Page Number: 80
Publication Date: Jul 2008
Journal: INFOR: Information Systems and Operational Research
Authors: ,
Keywords: heuristics
Abstract:

We develop a new mixed integer nonlinear model to maximize a manufacturer's expected profit by combining strategic acquisition decisions with inventory management, where the manufacturer produces multiple products but faces uncertain demand for each product. This model also considers that suppliers provide competitive discount schemes. An iterative algorithm is developed to solve the problem. The preliminary computational results for a numerical example are reported.

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