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A note on the robust international sourcing algorithm of Gutierrez and Kouvelis. working paper (2003)
| Citations: | 2 - 2 self |
BibTeX
@MISC{Snyder03anote,
author = {Lawrence V. Snyder},
title = {A note on the robust international sourcing algorithm of Gutierrez and Kouvelis. working paper},
year = {2003}
}
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Abstract
We discuss an error contained in Gutérrez and Kouvelis’s (1995) branch-and-bound algo-rithm for a robust international sourcing problem, which reduces to a robust version of the uncapacitated fixed-charge location problem (UFLP). The algorithm takes parameters p and N and attempts to find either the N most robust solutions (i.e., the N solutions with smallest maximum regret) or all solutions with maximum regret less than or equal to p if there are fewer than N of them. The crux of the error is that optimization is performed based on one objective (expected cost) while fathoming is performed based on another (robustness).
