Optimal Pricing and Production Master Planning in a Multiperiod Horizon Considering Capacity and Inventory Constraints

Neale R. Smith, Jorge Limón Robles and Leopoldo Eduardo Cárdenas-Barrón
Authors registered in the RePEc Author Service: Leopoldo Eduardo Cárdenas-Barrón ()

Mathematical Problems in Engineering, 2009, vol. 2009, 1-15

Abstract:

We formulate and solve a single-item joint pricing and master planning optimization problem with capacity and inventory constrains. 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.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:932676

DOI: 10.1155/2009/932676

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