Search the World's Largest Database of Information Science & Technology Terms & Definitions
InfInfoScipedia LogoScipedia
A Free Service of IGI Global Publishing House
Below please find a list of definitions for the term that
you selected from multiple scholarly research resources.

What is Greedy Heuristic

Chapter 68
Encyclopedia of Business Analytics and Optimization
An approximation algorithm that follows a strategy based on making the choice of locally optimizing with the hope of finding a global optimum at the end of the process.
Published in Chapter:
Designing Supply Chains Using Optimization
Jairo R. Montoya-Torres (Universidad de La Sabana, Colombia and University of Leeds, UK)
Copyright: © 2014 |Pages: 11
DOI: 10.4018/978-1-4666-5202-6.ch068
Abstract
Part of the planning process in supply chain management consists of finding the best possible configuration, including the definition of product flow from plants to clients (markets) via a set of warehouses. Defining the location of such warehouses is also part of the decision-making problem. This problem is known in the literature as the two-echelon uncapacitated facility location problem (TUFLP) and is known to be NP-hard. This chapter aims at solving this problem using optimization methods baesd on approximate algorithms. Their performance is analyzed using well-known date sets from the academic literature.
Full Text Chapter Download: US $37.50 Add to Cart
eContent Pro Discount Banner
InfoSci OnDemandECP Editorial ServicesAGOSR