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

Neale R. Smith | Zendy; Jorge Limón Robles | Zendy; Leopoldo Eduardo CárdenasBarrón | Zendy

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

Author(s) -

Neale R. Smith,

Jorge Limón Robles,

Leopoldo Eduardo CárdenasBarrón

Publication year - 2009

Publication title -

mathematical problems in engineering

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.262

H-Index - 62

eISSN - 1026-7077

pISSN - 1024-123X

DOI - 10.1155/2009/932676

Subject(s) - mathematical optimization , time horizon , production (economics) , dynamic programming , process (computing) , production planning , computer science , horizon , optimization problem , mathematics , economics , microeconomics , geometry , operating system

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

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