D.G. Mogale
Dual Market Facility Network Design under Bounded Rationality
Mogale, D.G.; Lahoti, Geet; Jha, Shashi; Shukla, Manish; Kamath, Narasimha; Tiwari, Manoj
Authors
Geet Lahoti
Shashi Jha
Manish Shukla
Narasimha Kamath
Manoj Tiwari
Abstract
A number of markets, geographically separated, with different demand characteristics for different products that share a common component, are analyzed. This common component can either be manufactured locally in each of the markets or transported between the markets to fulfill the demand. However, final assemblies are localized to the respective markets. The decision making challenge is whether to manufacture the common component centrally or locally. To formulate the underlying setting, a newsvendor modeling based approach is considered. The developed model is solved using Frank-Wolfe linearization technique along with Benders’ decomposition method. Further, the propensity of decision makers in each market to make suboptimal decisions leading to bounded rationality is considered. The results obtained for both the cases are compared.
Citation
Mogale, D., Lahoti, G., Jha, S., Shukla, M., Kamath, N., & Tiwari, M. (2018). Dual Market Facility Network Design under Bounded Rationality. Algorithms, 11(4), Article 54. https://doi.org/10.3390/a11040054
Journal Article Type | Article |
---|---|
Acceptance Date | Apr 16, 2018 |
Online Publication Date | Apr 20, 2018 |
Publication Date | Apr 20, 2018 |
Deposit Date | Jun 28, 2018 |
Publicly Available Date | Jun 28, 2018 |
Journal | Algorithms |
Publisher | MDPI |
Peer Reviewed | Peer Reviewed |
Volume | 11 |
Issue | 4 |
Article Number | 54 |
DOI | https://doi.org/10.3390/a11040054 |
Public URL | https://durham-repository.worktribe.com/output/1322985 |
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Copyright Statement
© 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access
article distributed under the terms and conditions of the Creative Commons Attribution
(CC BY) license (http://creativecommons.org/licenses/by/4.0/).
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