Multiple products, multiple constraints, single period inventory problem: A Hierarchical solution procedure
V. Venkata Rao and
No WP2003-11-03, IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department
This paper presents the formulation and a hierarchical solution procedure of multiple products, multiple constraints, single period inventory problem. The hierarchical procedure decomposes the problem into a number of sub-problems equal to the number of constraints sets. Each sub-problem is solved optimally by applying Lagrange multipliers and satisfying Kuhn-Tucker conditions. The experimental results show that the hierarchical procedure performs well even when there are large a number of products and constraints.
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