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The advantages of Goal Programming (GP) over linear programming (LP) are discussed in the context of the healthcare industry. Decision makers must give considerable attention to the formulation of a GP model. However, long‐ and short‐term solutions must not be confused. Solutions also...
Persistent link: https://www.econbiz.de/10014790268
This article considers the effect of freight discounts and disposals on the inventory policies of a profit‐maximising firm with price‐elastic demand and with price as a mark‐up on the acquisition cost. In addition, the cost of placing an order is in part dependent upon a freight‐cost...
Persistent link: https://www.econbiz.de/10014790323
The p ‐median problem involves the locating of a fixed umber of facilities to serve a set of customers such that the aggregate distance travelled is minimized. Considers the p ‐median problem with and without distance constraints. Solves the two versions of the p ‐median problems utilizing...
Persistent link: https://www.econbiz.de/10014790589
In certain manufacturing categories the type of plant layout to adopt is determined by the type of production process. However, within multi‐product mid‐volume environments the type of plant layout to select is not as obvious, with recent trends indicating that the more traditional...
Persistent link: https://www.econbiz.de/10014790628
Presents a model that minimizes an aggregate measure of waiting times and queue lengths for a collection of workstations. Shows that the naïve allocation of arrivals among workstations in proportion to their processing times does not result in an optimized system. Uses the Lagrange multiplier...
Persistent link: https://www.econbiz.de/10014790728
In this article, a PC‐based spreadsheet support system (SSS) for controlling inventory and service level for the newsboy problem is developed utilising Lotus 1‐2‐3 spreadsheet capabilities. The technical aspects of the SSS are presented and discussed within the context of a umerical...
Persistent link: https://www.econbiz.de/10014791194
Persistent link: https://www.econbiz.de/10014791251
, the conference dealt with six sub‐themes: the environmental and human sides of optimization, innovations in destination … workshops were held on the effective use of online surveys and on the process of developing a tourism optimization management …
Persistent link: https://www.econbiz.de/10014762609
method does not yield a realistic solution for room rate optimization. This study analyzes the underlying causes of this … profit optimization and proposes a new method to resolve it.  …
Persistent link: https://www.econbiz.de/10014763127
, and 2) given expectations, agents solve optimization problems and these solutions in turn determine actual price … both forecasting and optimization decisions in an experimental cobweb economy. We report results from four experimental … treatments: 1) subjects form forecasts only, 2) subjects determine quantity only (solve an optimization problem), 3) they do both …
Persistent link: https://www.econbiz.de/10011256912