The profit-oriented interval cutting problem: Model and stability analysis

The profit-oriented interval cutting problem: Model and stability analysis

0.00 Avg rating0 Votes
Article ID: iaor1993137
Country: Netherlands
Volume: 27
Issue: 2
Start Page Number: 127
End Page Number: 133
Publication Date: May 1992
Journal: International Journal of Production Economics
Authors:
Keywords: programming: dynamic
Abstract:

A one-dimensional cutting problem recently introduced by the author is extended to the case of profit maximization. For a number of pieces of a (curtain) bale it has to be decided sequentially how they should be cut down to lengths accepted by the customers. They may cut down to single pieces and to pairs of shorter pieces, both of variable length within some boundaries. If now the profit parameters p and q for units of single pieces and of pairs differs a profit maximization model can be set up in which cutting is aimed not at minimizing the unusable rest of the pieces but at maximizing the profit from the usable pieces. This problem can be solved by the dynamic programming approach. Moreover, the stability of solutions generated by the dynamic programming method is studied for the case of profit parameters changes. Boundaries for the feasible ratio p/q will be derived, for which a found optimal solution remains valid.

Reviews

Required fields are marked *. Your email address will not be published.