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This paper considers the well-known static time-continuous multiproduct economic order quantity (EOQ) based inventory management problem with the storage space constraints. This problem is modelled as a combinatorial optimization problem… Click to show full abstract
This paper considers the well-known static time-continuous multiproduct economic order quantity (EOQ) based inventory management problem with the storage space constraints. This problem is modelled as a combinatorial optimization problem in the corresponding dynamic discrete time system control process. In order to solve this problem approximately, we developed two heuristics: a special heuristic based on a local search technique and a metaheuristic procedure based on the variable neighbourhood search principle. The efficiency of two heuristics is preliminary examined and compared on several randomly generated instances with the same number of products.
Journal Title: Optimization Letters
Year Published: 2017
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