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Journal Articles Omega Year : 2015

Approximate solution of a profit maximization constrained virtual business planning problem

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Abstract

A virtual business problem is studied, in which a company-contractor outsources production to specialized subcontractors. Finances of the contractor and resource capacities of subcontractors are limited. The objective is to select subcontractors and distribute a part of the demanded production among them so that the profit of the contractor is maximized. A generalization of the knapsack problem, called Knapsack-of-Knapsacks (K-of-K), is used to model this situation, in which items have to be packed into small knapsacks and small knapsacks have to be packed into a large knapsack. A fully polynomial time approximation scheme is developed to solve the problem K-of-K.
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Dates and versions

emse-01250964 , version 1 (05-01-2016)

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Alexandre Dolgui, Sergey Kovalev, Erwin Pesch. Approximate solution of a profit maximization constrained virtual business planning problem. Omega, 2015, 57 (Part B), pp 212-216. ⟨10.1016/j.omega.2015.05.001⟩. ⟨emse-01250964⟩
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