Inventory control under speculation: myopic heuristics and exact procedures

Article Abstract:

A solution procedure was developed to determine the optimal inventory levels for both stationary and non-stationary demands. The procedure, which calculates the optimal order upto levels, involves the use of simple myopic heuristics which perform very well for exponential demands. Results show that the heuristics's worst performance is 3.94% for uniform and 0.77% for exponential. In the case of uniform demands, such heuristics are highly effective when the rise in price large compared to the holding cost.

Inventory Control, Analysis, Mathematical optimization, Optimization theory

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Resource-constrained multi-project scheduling with tardy costs: comparing myopic, bottleneck, and resource pricing heuristics

Article Abstract:

A method for scheduling multiple resource-constrained projects is developed using heuristic solutions, with the purpose of reducing weighted tardiness costs. A balance between the marginal cost of delaying the initiation of a project and the marginal benefit of the delay is established via a scheduling policy with resource pricing. This policy incorporates the heuristic approximation of implicit resource prices.

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Generating efficient schedules for identical parallel machines involving flow-time and tardy jobs

Article Abstract:

The Heuristic algorithms are proposed as a solution for the problem of generating a set of non-dominated schedules for identical parallel machines involving total flow-time and total number of tardy jobs. Some directions for the future research in this field are also suggested.

Science & research

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