The multi-product newsboy problem with supplier quantity discounts and a budget constraint
AbstractThis paper considers the multi-product newsboy problem with both supplier quantity discounts and a budget constraint, while each feature has been addressed separately in the literature. Different from most previous nonlinear optimization models on the topic, the problem is formulated as a mixed integer nonlinear programming model due to price discounts. A Lagrangian relaxation approach is presented to solve the problem. Computational results on both small and large-scale test instances indicate that the proposed algorithm is extremely effective for the problem. An extension to multiple constraints and preliminary computational results are also reported.
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Operational Research.
Volume (Year): 206 (2010)
Issue (Month): 2 (October)
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Web page: http://www.elsevier.com/locate/eor
Inventory Newsboy model Quantity discount Budget constraint Lagrangian relaxation Mixed integer nonlinear programming;
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