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Showing 7 results for Dynamic Programming

Mohammad Modarres, Ehsan Bolandifar,
Volume 1, Issue 1 (5-2008)


  We extend the concept of dynamic pricing by integrating it with “overselling with opportunistic cancellation” option, within the framework of dynamic policy. Under this strategy, to sell a stock of perishable product (or capacity) two prices are offered to customers at any given time period. Customers are categorized as high-paying and low-paying ones. The seller deliberately oversells its capacity if high paying customers show up, even when the capacity is already fully booked by low-paying customers. In that case, the sale to some low-paying customers is canceled, although an appropriate compensation must be provided. A dynamic programming approach is applied to formulate and solve this problem. We develop two models for continuous and periodic pricing, depending on the frequency of price changing. The advantage of this system over dynamic pricing model is investigated through some numerical examples. We also study some structural properties of the optimal policies.

Mohammadi Limaei, Lohmander, Obersteiner,
Volume 2, Issue 1 (4-2010)

  The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stochastic dynamic programming technique and traditional deterministic methods are used to obtain the optimal decisions. The expected present value of all future profits is maximized. The results of adaptive optimization are compared with results obtained by the traditional deterministic approach. The results show a significant increase in the expected economic values via optimal adaptive decisions.

Lalwani, Kumar, Spedicato, Gupta,
Volume 3, Issue 1 (4-2012)

We present an application of ABS algorithms for multiple sequence alignment (MSA). The Markov decision process (MDP) based model leads to a linear programming problem (LPP), whose solution is linked to a suggested alignment. The important features of our work include the facility of alignment of multiple sequences simultaneously and no limit for the length of the sequences. Our goal here is to avoid the excessive computing time, needed by dynamic programming based algorithms for alignment of a large number of sequences. In an attempt to demonstrate the integration of the ABS approach with complex mathematical frameworks, we apply the ABS implicit LX algorithm to elucidate the LPP, constructed with the assistance of MDP. The MDP applied for MSA is a pragmatic approach and entails a scope for future work. Programming is done in the MATLAB environment
Samimi, Aghaie, Shahriari,
Volume 3, Issue 2 (9-2012)

We  deal with the relationship termination problem in the context of individual-level customer relationship management (CRM) and use a Markov decision process to determine the most appropriate occasion for termination of the relationship with a seemingly unprofitable customer. As a particular case, the beta-geometric/beta-binomial model is considered as the basis to define customer behavior and it is explained how to compute customer lifetime value when one needs to take account of the firm’s choice as to whether to continue or terminate relationship with unprofitable customers. By numerical examples provided by simulation, it is shown how a stochastic dynamic programming approach can be adopted in order to obtain a more precise estimation of the customer lifetime value as a key criterion for resource allocation in CRM.     

Dr Yahia Zare Mehrjerdi, Mitra Moubed,
Volume 6, Issue 1 (3-2015)

This paper proposes a robust model for optimizing collaborative reverse supply chains. The primary idea is to develop a collaborative framework that can achieve the best solutions in the uncertain environment. Firstly, we model the exact problem in the form of a mixed integer nonlinear programming. To regard uncertainty, the robust optimization is employed that searches for an optimum answer with nearly all possible deviations in mind. In order to allow the decision maker to vary the protection level, we used the "budget of uncertainty" approach. To solve the np-hard problem, we suggest a hybrid heuristic algorithm combining dynamic programming, ant colony optimization and tabu search. To confirm the performance of the algorithm, two validity tests are done firstly by comparing with the previously solved problems and next by solving a sample problem with more than 900 combinations of parameters and comparing the results with the nominal case. In conclusion, the results of different combinations and prices of robustness are compared and some directions for future researches are suggested finally.

Dr. Hamed Fazlollahtabar, Prof. Nezam Mahdavi-Amiri,
Volume 8, Issue 1 (4-2017)

     This special issue is a collection of refereed articles selected from the 13th International Industrial Engineering Conference (IIEC 2017). The initial selection was made by Dr. Hamed Fazlollahtabar who also wrote the following description. The accepted articles were reviewed going through the usual reviewing process of IJOR.

Nezam Mahdavi-Amiri

     The 13th International Industrial Engineering Conference (IIEC 2017) hosted by Mazandaran University of Science and Technology, Babol, Iran, was held on 22nd and 23rd of February 2017 at Mizban Complex, Babolsar, Mazandaran, Iran. The total number of papers received was 805, among which 378 papers were accepted in two categories of oral presentations (185 papers) and poster presentations (193 papers). The scientific committee of the conference selected a number of papers to be extended and considered for a special issue of the Iranian Journal of Operations Research (IJOR). For this, 25 selected papers were considered and 17 papers were chosen for the second round of review. Having strict review criteria, 11 papers were then selected and refereed for a final decision. After the review process, 6 papers were finally accepted for the special issue. The contents of the accepted papers follow here. Vehicle routing and scheduling in an environmentally friendly manner attracted researchers to develop both mathematical programming models and heuristics as solution approaches. Green supply network design under uncertainty was considered for a multi-mode production system. Facility planning and hub location problem in competitive conditions and multiple allocations were investigated. Robust optimization philosophy as an uncertainty treatment approach was studied using event-driven and attribute-driven concepts. An interesting application of operations research in forestry was studied developing stochastic dynamic programming with Markov chains.

     My special gratitude goes to Professor Nezam Mahdavi-Amiri, Editor-in-chief, and the editorial board members of IJOR for their cooperation and support during the past 10 months of preparing this special issue.

Hamed Fazlollahtabar
Coordinator for Special Issues IIEC2017
Department of Industrial Engineering
School of Engineering, Damghan University
Damghan, Iran
Dr. S Mohammadi Limaei, Dr. Peter Lohmander,
Volume 8, Issue 1 (4-2017)

We present a stochastic dynamic programming approach with Markov chains for optimal control of the forest sector. The forest is managed via continuous cover forestry and the complete system is sustainable. Forest industry production, logistic solutions and harvest levels are optimized based on the sequentially revealed states of the markets. Adaptive full system optimization is necessary for consistent results. The stochastic dynamic programming problem of the complete forest industry sector is solved. The raw material stock levels and the product prices are state variables. In each state and at each stage, a quadratic programming profit maximization problem is solved, as a subproblem within the STDP algorithm.

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