Lot sizing through the Fordyce-Webster heuristic

Lot sizing through the Fordyce-Webster heuristic

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Article ID: iaor199055
Country: United States
Volume: 27
Start Page Number: 102
End Page Number: 109
Publication Date: Mar 1986
Journal: Production and Inventory Management Journal
Authors:
Abstract:

The Fordyce-Webster algorithm is a heuristic obtained by allowing quantity discounts and applying the Wagner-Whitin algorithm to the resulting lot-sizing problem. An example shows that an optimal solution is not guaranteed. Comparisons to other methods of lot sizing when quantity discounts are allowed show good results.

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