Lagrange Multiplier and Nonlinear Goal Programming for Optimizing Multi-Item Inventory Problems

D.K. Sharma, D. Ghosh, and D. Okunbor

Keywords

Lagrange multiplier, nonlinear goal programming, multi-item inventory

Abstract

This article deals with multi-item inventory problem with budgetary and warehouse capacity constraints. The nonlinear goal programming (NLGP) approach was found to compare favourably with the Lagrange multiplier method. A sensitivity analysis of variable warehouse capacities was conducted and game theory approach applied to the optimal level of inventories of the different items.

Important Links:

• References
• DOI: 10.2316/Journal.205.2004.3.205-4088
• From Journal (205) International Journal of Modelling and Simulation - 2004

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