Multiperiod allocation of limited resources: A minimax approach

Hanan Luss and Donald R. Smith

Naval Research Logistics (NRL), 1988, vol. 35, issue 4, 493-501

Abstract: We consider a multiperiod model in which limited resources are allocated among competing activities in each period. The objective is to minimize the maximum weighted deviation of the cumulative activity levels from the cumulative demands among all activities at all periods. All resources are assumed to be storable; that is, surpluses at one period can be used later on. This model is useful, for example, in multiperiod production planning for high‐technology industries that assemble a large variety of circuit boards using numerous electronic components. The model is formulated with a minimax objective. We develop an efficient algorithm that can solve large‐scale problems very quickly. At each iteration, the algorithm makes use of the solution to a relaxed problem to identify activities that should be permanently set to zero, as well as groups of activities that should have the same value.

Date: 1988
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Citations: View citations in EconPapers (5)

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https://doi.org/10.1002/1520-6750(198808)35:43.0.CO;2-0

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:35:y:1988:i:4:p:493-501

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