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 | 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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