Article ID: | iaor20141049 |
Volume: | 41 |
Issue: | 6 |
Start Page Number: | 1 |
End Page Number: | 11 |
Publication Date: | Jan 2014 |
Journal: | Computers and Operations Research |
Authors: | Mansini Renata, Manerba Daniele |
Keywords: | programming: mathematical, combinatorial optimization, supply & supply chains |
New generation algorithms focus on hybrid miscellaneous of exact and heuristic methods. Combining meta‐heuristics and exact methods based on mathematical models appears to be a very promising alternative in solving many combinatorial optimization problems. In this paper we introduce a matheuristic method exploiting the optimal solution of mixed integer linear subproblems to solve the complex supplier selection problem of a company that needs to select a subset of suppliers so to minimize purchasing costs while satisfying products demand. Suppliers offer products at given prices and apply discounts according to the total quantity purchased. The problem, known as Total Quantity Discount Problem (TQDP), is strongly