A model and procedure for competitive bidding under resource constraints
by Haitao Li, Keith Womer
International Journal of Operational Research (IJOR), Vol. 2, No. 4, 2007

Abstract: Accurate cost estimates for an incoming order are critical in formulating the optimal bidding strategy. When a firm is approaching its resource capacity, adding a new job into the system in the short-run may cause violations of the due date requirements, thus penalty costs arise. Failure to obtain an accurate estimate of the penalty costs often leads to sub-optimal bids. In this paper, we propose a two-stage model and procedure for optimal bidding under explicit resource constraints. The computational results indicate that our model and solution approach is both effective and efficient for the proposed problem.

Online publication date: Sun, 24-Jun-2007

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Operational Research (IJOR):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com