We address a multi-product capacitated lot-sizing problem with pricing. The objective is to maximise profit. The problem extends the multi-product capacitated lot-sizing problem (CLSP) found in the literature to include price as a decision variable, demand as a function of price, setup time, and more general holding costs. We present a heuristic procedure that can be used to solve large problem instances quickly with good solution quality. The results of computational testing are presented.
- economic lot-sizing
- profit maximisation
ASJC Scopus subject areas
- Strategy and Management
- Management Science and Operations Research
- Industrial and Manufacturing Engineering