|Affiliations:||Mathematical Institute of the Serbian Academy of Sciences and Arts||Title:||The maximum return-on-investment plant location problem with market share||Journal:||Journal of the Operational Research Society||Volume:||59||Issue:||3||First page:||399||Last page:||406||Issue Date:||1-Jan-2008||Rank:||M22||ISSN:||0160-5682||DOI:||10.1057/palgrave.jors.2602349||Abstract:||
This paper examines the plant location problem under the objective of maximizing return-on-investment. However, in place of the standard assumption that all demands must be satisfied, we impose a minimum acceptable level on market share. The model presented takes the form of a linear fractional mixed integer program. Based on properties of the model, a local search procedure is developed to solve the problem heuristically. Variable neighbourhood search and tabu search heuristics are also developed and tested. Thus, a useful extension of the simple plant location problem is examined, and heuristics are developed for the first time to solve realistic instances of this problem. © 2008 Operational Research Society Ltd. All rights reserved.
|Keywords:||Heuristics | Linear fractional programming | Market share | Plant location | Return-on-investment||Publisher:||Taylor & Francis|
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