Title :
An EOQ Model for Multi-item and Multi-storehouse with Stochastic Demand
Author :
Zhao, Peixin ; Zhao, Bingxin ; Wang, Hong
Author_Institution :
Sch. of Manage., Shandong Univ., Jinan
Abstract :
A new economic order quantity model is developed for multi-item and multi-storehouse with limited funds, limited storage capacity and stochastic demand. The model is proved to be a nonlinear convex programming. For finding the optimal replenishment schedule, we design a modified algorithm that combines Rosen´s gradient projection method and Armijo-Goldstein line search method. A numerical example is presented to illustrate the solution procedure
Keywords :
convex programming; economics; gradient methods; search problems; stochastic processes; Armijo-Goldstein line search; Rosen gradient projection; economic order quantity model; multiitem; multistorehouse; nonlinear convex programming; stochastic demand; Algorithm design and analysis; Educational institutions; Electronic mail; Finance; Financial management; Industrial economics; Job shop scheduling; Scheduling algorithm; Search methods; Stochastic processes; algorithm; economic order quantity; multi-item; multi-storehouse; stochastic demand;
Conference_Titel :
Intelligent Control and Automation, 2006. WCICA 2006. The Sixth World Congress on
Conference_Location :
Dalian
Print_ISBN :
1-4244-0332-4
DOI :
10.1109/WCICA.2006.1712614
