The celebrated Taylor rule provides a simple formula that aims to capture how the central bank interest rate is adjusted as a linear function of inflation and output gap. However, the rule does not take explicitly into account the zero lower bound on the interest rate. Prior studies on interest...

In this paper, we develop a new mathematical model that integrates layout configuration and production planning in the design of dynamic distributed layouts. The model incorporates a number of important manufacturing attributes such as demand fluctuation, system reconfiguration, lot splitting,...

This paper considers open-shop scheduling with no intermediate buffer to minimize total tardiness. This problem occurs in many production settings, in the plastic molding, chemical, and food processing industries. The paper mathematically formulates the problem by a mixed integer linear program....

Purpose: Once a set of suppliers has been determined, according to criteria of quality, price and reliability, among others, there remains the problem of assigning orders to the selected suppliers, in order to cover the needs at the lowest cost. We consider the case in which the needs of a...

The exploitation of renewable energy sources through sustainable energy technologies are taking the field to decrease the pollutions' emissions into the Earth's environment. To offset the limitations of such resources, hybrid energy systems are becoming fundamental in grid-connected applications...

One of the problems tourism faces is how to make itineraries more effective and efficient. This research has solved the routing problem with the objective of maximizing the score and minimizing the time needed for the tourist's itinerary. Maximizing the score means collecting a maximum of...

Purpose: This paper aims to model and optimize the closed loop supply chain for maximizing the profit by considering the fixed order quantity inventory policy in various sites at multiple periods. Design/methodology/approach: In forward supply chain, a standard inventory policy can be followed...

In today's manufacturing outlook, coordinated scheduling of delivery and inventory represents a leading leverage to enhance the competitiveness of firms which aims to address the new challenge coming from scheduling problems. Though in the last decades this kind of issue has been extensively...

The cell formation (CF) is one of the most important steps in the design of a cellular manufacturing system (CMS), which it includes machines' grouping in cells and part grouping as separate families, so that the costs are minimized. The various aspects of the problem should be considered in a...

Not all problem instances in combinatorial optimization are equally hard. One famous study "Where the Really Hard Problems Are" shows that for three decision problems and one optimization problem, computational costs can vary dramatically for equally sized instances. Moreover, runtimes could be...