Computers & Industrial Engineering 120 (2018) 192–205 Contents lists available at ScienceDirect Computers & Industrial Engineering journal homepage: www.elsevier.com/locate/caie A bi-objective two-level newsvendor problem with discount policies and budget constraint a b, c Mehdi Keramatpour , Seyed Taghi Akhavan Niaki , Seyed Hamid Reza Pasandideh Department of Industrial Engineering, Faculty of Industrial and Mechanical Engineering Islamic Azad University, Qazvin Branch, Qazvin, Iran Department of Industrial Engineering, Sharif University of Technology, P.O. Box 11155-9414 Azadi Ave., Tehran 1458889694, Iran Department of Industrial Engineering, Faculty of Engineering, Kharazmi University, Tehran, Iran ARTIC L E I NF O ABSTRAC T Keywords: In this study, a single-period two-level inventory control problem is modeled in which the demand is a random Two-level variable and shortage is assumed as lost sales. The aim is to maximize the expected proﬁt and the service level at Single period the end of the season, simultaneously. The setting investigated in this research is unique in the sense that both Discount policy all-units and incremental discount policies are considered under a budget constraint. The developed NP-hard bi- Multi-objective optimization objective optimization problem cannot be solved using an exact method within a reasonable computational time. Meta-heuristic algorithms Thus, a meta-heuristic algorithm,
Computers & Industrial Engineering – Elsevier
Published: Jun 1, 2018
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