Please use this identifier to cite or link to this item: http://repositorio.inesctec.pt/handle/123456789/2197
Title: A Multiobjective Metaheuristic for a Mean-Risk Multistage Capacity Investment Problem with Process Flexibility
Authors: João Claro
Jorge Pinho de Sousa
Issue Date: 2012
Abstract: In this paper, we propose a multiobjective local search metaheuristic for a mean-risk multistage capacity investment problem with process flexibility, irreversibility, lumpiness and economies of scale in capacity costs. In each period, discrete decisions concerning the investment in capacity expansion, and continuous decisions concerning the utilization of the available capacity to satisfy demand are considered. We solve the capacity utilization problems with linear programming, in order to find the minimum capacity for each resource with the other resources remaining unchanged, this way providing information on the feasibility of the discrete investment decisions. Conditional value-at-risk is considered as a risk measure. Results of a computational study are presented, that show the approach is capable of obtaining high-quality approximations to the efficient sets, with a modest computational effort.
URI: http://repositorio.inesctec.pt/handle/123456789/2197
metadata.dc.type: article
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