Optimal Resource Allocation in Supply Network with Competitive Market Concept

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dc.contributor.authorOpadiji, Jayeola
dc.contributor.authorKaihara, Toshiya
dc.date.accessioned2019-06-03T08:17:12Z
dc.date.available2019-06-03T08:17:12Z
dc.date.issued2007
dc.description.abstractWe propose a competitive market-based model which uses price mechanism in an economy to determine an optimal allocation of resources among a set of trading agents. A supply network is represented by a set of production agents, which make use of the resources available to them in the market to produce an output defined by their technologies and demand agents seeking to maximize returns based on manufacturing budget. We take into consideration, changes in quantity of primary production factors – capital and labour – at facility locations. The resource allocation table obtained from simulation is a measure of value of market resources and facility capacities in the supply network.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/2023
dc.language.isoenen_US
dc.publisherCIRP International Seminar on Manufacturing Systems, University of Liverpool, UKen_US
dc.subjectOptimal Resource Allocationen_US
dc.subjectCompetitive Marketen_US
dc.subjectSupply Networken_US
dc.titleOptimal Resource Allocation in Supply Network with Competitive Market Concepten_US
dc.typeArticleen_US

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