Abstract
In this technical note, an alternative solution procedure to the model that Glock (2011) developed is presented. In particular, we take into account the same assumptions, but the total cost function is reformulated, i.e., the step-type discontinuity is replaced by a logistic approximation and the total costs of the system are computed on the whole set of preselected suppliers. Subsequently, we show that the total cost function possesses some properties in terms of convexity and continuity that allow the exploitation of standard constrained nonlinear minimization algorithms. Finally, tests conducted on the same set of problems that Glock (2011) originally considered illustrate the good performances of the solution procedure developed in this note.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.