Raw Material Purchasing Optimization Using Column Generation
Zhen Gao,
Danning Li,
Danni Wang
et al.
Abstract:The raw material purchasing (RMP) problem is to determine the purchasing quantities of raw materials in given periods or cycles. Raw material purchasing optimization is crucial for large-scale steel plants because it is closely related to the supply of raw materials and cost savings. The raw material purchasing of large-scale steel enterprises is characterized by many varieties, large quantities, and high costs. The RMP objective is to minimize the total purchasing cost, consisting of the price of raw material… Show more
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