Supply chain management is a crucial task of managing large organizations. In a decentralized supply chain each member focuses on maximizing his own profit. As a result of it, the conflict between the manufacturer and the retailers will arise. To avoid this sort of situations, coordination model strike a balancing between the profit of manufacturers and retailers. This paper investigates a two ...

Optimization modeling and simulation of the autothermal reactor in the methanol production process was effectively done using the quasi –Newton scheme of optimization in Aspen Hysys 2006.5. The primary variables selected for this modeling were heat flow value of the following: Steam1;steam2; coolant1; coolant2; coolant3. After running the process optimization simulation, total cost was minimize...

We consider the problem of pricing items so as to maximize the profit made from selling these items. An instance is given by a set E of n items and a set of m clients, where each client is specified by one subset of E (the bundle of items she/he wants to buy), and a budget (valuation), which is the maximum price she/he is willing to pay for that subset. We restrict our attention to the model wh...

We study the stochastic dynamics of banking items such as assets, capital, liabilities and profit. A consideration of these items leads to the formulation of a maximization problem that involves endogenous variables such as depository consumption, the value of the bank’s investment in loans, and provisions for loan losses as control variates. A solution to the aforementioned problem enables us ...

The economic lot scheduling problem (ELSP) is a well known problem that focuses on scheduling the production of multiple items on a single machine such that inventory and setup costs are minimized. In this paper, we extend the ELSP to include price optimization with the objective to maximize profits. A solution approach based on column generation is provided and shown to produce very close to o...

In this paper, we consider the problem of pricing for optimal resource allocation service using Engineering Optimization with Particle Swarm algorithm that ensures efficient resource allocation that provides guaranteed quality of service while maximizing profit in multiservice networks. We formulate our generalized optimization algorithm based on the notion of a “profit center” with an arbitrar...

When outcomes of actions are random variables with unknown parameters, a popular approach to choose an optimal action involves two steps: 1. Estimate the parameters of a probability distribution using some criterion such as minimizing the sum of squared errors or maximum likelihood. 2. Choose an action to minimize the expected loss (or maximize the expected proÞt) using the criterion relevant f...

Applications of Lagrange's method of undetermined multipliers in physics and economics suggest some analogies between the two disciplines. By using the work of E. T. Jaynes on information theory, the long standing problem of Maxwell's demon in thermodynamics can be cast as a constrained optimization problem where information and energy are dual concepts. Temperature emerges as the energetic pri...

In the tollbooth problem, we are given a tree T = (V,E) with n edges, and a set of m customers, each of whom is interested in purchasing a path on the tree. Each customer has a fixed budget, and is willing to pay at most her budget to purchase her path. The objective of the problem is to price the edges of T such that the total revenue made by selling the paths to the customers that can afford ...

This article presents sequential and parallel metaheuristics to solve the virtual machines subletting problem in cloud systems, which deals with allocating virtual machine requests into prebooked resources from a cloud broker, maximizing the broker profit. Three metaheuristic are studied: Simulated Annealing, Genetic Algorithm, and hybrid Evolutionary Algorithm. The experimental evaluation over...