Paper Info
Title
Inventory and facility location models with market selection
Abstract
We consider important generalizations of a wide class of traditional deterministic inventory and facility location models that we call inventory/facility location models with market selection. Instead of the traditional setting, we are given a set of markets, each specified by a sequence of demands and associated with a revenue. Decisions are made in two stages. We first make a decision of what markets to select, where all other markets are rejected. Next we have to construct a minimum-cost production plan (facility layout) to satisfy all of the demands of all the selected markets. The goal is to minimize the overall lost revenues of rejected markets and the production (facility openings and connection) costs. We show how to leverage existing approximation results for the traditional models to corresponding results for the counterpart models with market selection. More specifically, any LP based α–approximation for the traditional model can be leveraged to a $\frac{1}{_{1-e}-\frac{1}{\alpha}}$- approximation algorithm for the counterpart model with market selection. Our techniques are also applicable to an important class of covering problems.
Year
DOI
Venue
2005
10.1007/11496915_9
IPCO
Keywords
Field
DocType
market selection,approximation result,facility location model,facility layout,traditional setting,facility opening,traditional deterministic inventory,counterpart model,approximation algorithm,traditional model,satisfiability,facility location
Revenue,Approximation algorithm,Mathematical optimization,Leverage (finance),Generalization,Computer science,Facility location problem,Combinatorial optimization,Integer programming,Covering problems
Conference
Volume
ISSN
ISBN
3509
0302-9743
3-540-26199-0
Citations 
PageRank 
References 
7
0.55
14
Authors
4
Name
Order
Citations
PageRank
Retsef Levi139227.37
Joseph Geunes230828.72
H. Edwin Romeijn376983.88
David B. Shmoys44829601.03