2016
DOI: 10.48550/arxiv.1608.04321
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Optimizing the Production Cost of Minting with Mixed Integer Programming

Carlos A. Alfaro,
Raúl Martínez-Noriega,
César Guadarrama
et al.

Abstract: For central banks, managing the minting is one of the most important task since a shortage yields negative economic and social impacts, and the budget committed for minting is one of the largest within the central banks. Hence, the central bank requires to find the mixture of coins to be produced that satisfies the demand, inventory and production constraints while minimizing the cost. We propose a mixed-integer programming model that minimize the cost of minting by reducing the number of extra-shifts required… Show more

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