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A metaheuristic approach to solving a multiproduct EOQ-based inventory problem with storage space constraints

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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.

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Authors and Affiliations

  1. Faculty of Organizational Sciences, University of Belgrade, Belgrade, Serbia

    Lena Đorđević, Slobodan Antić & Mirjana Čangalović

  2. Faculty of Logistics, University of Maribor, Maribor, Slovenia

    Andrej Lisec

Authors
  1. Lena Đorđević
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  2. Slobodan Antić
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  3. Mirjana Čangalović
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  4. Andrej Lisec
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Correspondence to Lena Đorđević.

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Đorđević, L., Antić, S., Čangalović, M. et al. A metaheuristic approach to solving a multiproduct EOQ-based inventory problem with storage space constraints. Optim Lett 11, 1137–1154 (2017). https://doi.org/10.1007/s11590-016-1009-5

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