Authors: Brimberg, Jack
Hansen, Pierre
Laporte, Gilbert
Mladenović, Nenad 
Urošević, Dragan 
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
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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