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An Effective and Simple Algorithm to Solve the Discrete Multi-Product Economic Production Quantity Model

Author

Listed:
  • Amir Hossein Nobil

    (ParandakInstitute of Higher Education Parandak, Markazi, Iran)

  • Seyed TaghiAkhavanNiaki

    (Department of Industrial Engineering Sharif University of Technology, Tehran, Iran)

  • Erfan Nobil

    (Faculty of Engineering,Ruddehn Branch Islamic Azad University, Iran)

Abstract

This study proposes a practical heuristic algorithm to solve a complex and hard nonlinear integer programming (NLIP) formulation developed for a lot-sizing problem in multi-product economic production quantity (EPQ) environments containing a company and a supplier with delivery order constraints. In this paper, the previously published model is being modified with fewer constraints and decision variables, in order to find a better solution with less computational time using the proposed heuristic. We also show that the heuristic algorithm can find the optimal solution of a single-product inventory control problem without constraints.

Suggested Citation

  • Amir Hossein Nobil & Seyed TaghiAkhavanNiaki & Erfan Nobil, 2017. "An Effective and Simple Algorithm to Solve the Discrete Multi-Product Economic Production Quantity Model," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(3), pages 251-261.
    • Handle: RePEc:cys:ecocyb:v:50:y:2017:i:3:p:251-261
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