Optimal Policies for Crude Oil Selection

Abstract:

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In this paper, we investigate the crude oil selection problem derived from the production of a large typical oil refinery. A deterministic mixed integer programming model for making purchasing decisions in the refinery is proposed in which practical transportation requirements are considered. The objective is to select the varieties of crude oil and determine the purchasing, production and inventory quantities under complicated material-balance constraints and capacity constraints for minimizing the sum of purchasing, order, inventory and transportation costs. A numerical example indicates the extensive application of the presented model.

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Periodical:

Edited by:

Zhijiu Ai, Xiaodong Zhang, Yun-Hae Kim and Prasad Yarlagadda

Pages:

431-434

DOI:

10.4028/www.scientific.net/AMR.339.431

Citation:

G. L. Liu et al., "Optimal Policies for Crude Oil Selection", Advanced Materials Research, Vol. 339, pp. 431-434, 2011

Online since:

September 2011

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$35.00

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