A heuristic approach for a multi-product capacitated lot-sizing problem with pricing

Rosa G. González-Ramírez, Neale R. Smith, Ronald G. Askin

Research output: Contribution to journalArticlepeer-review

26 Scopus citations

Abstract

We address a multi-product capacitated lot-sizing problem with pricing. The objective is to maximise profit. The problem extends the multi-product capacitated lot-sizing problem (CLSP) found in the literature to include price as a decision variable, demand as a function of price, setup time, and more general holding costs. We present a heuristic procedure that can be used to solve large problem instances quickly with good solution quality. The results of computational testing are presented.

Original languageEnglish
Pages (from-to)1173-1196
Number of pages24
JournalInternational Journal of Production Research
Volume49
Issue number4
DOIs
StatePublished - 15 Feb 2011
Externally publishedYes

Bibliographical note

Funding Information:
We would like to thank the anonymous reviewers for their comments, which have aided us greatly to improve the content and presentation. This research was supported by ITESM Campus Monterrey Research Fund CAT128.

Keywords

  • decomposition
  • economic lot-sizing
  • pricing
  • profit maximisation

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