Optimal pricing and production master planning in a multiperiod horizon considering capacity and inventory constraints (Q1036498): Difference between revisions
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scientific article
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English | Optimal pricing and production master planning in a multiperiod horizon considering capacity and inventory constraints |
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Optimal pricing and production master planning in a multiperiod horizon considering capacity and inventory constraints (English)
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13 November 2009
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Summary: We formulate and solve a single-item joint pricing and master planning optimization problem with capacity and inventory constraints. The objective is to maximize profits over a discrete-time multiperiod horizon. The solution process consists of two steps. First, we solve the single-period problem exactly. Second, using the exact solution of the single-period problem, we solve the multiperiod problem using a dynamic programming approach. The solution process and the importance of considering both capacity and inventory constraints are illustrated with numerical examples.
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