Article ID: | iaor19921251 |
Country: | United Kingdom |
Volume: | 42 |
Issue: | 10 |
Start Page Number: | 889 |
End Page Number: | 894 |
Publication Date: | Oct 1991 |
Journal: | Journal of the Operational Research Society |
Authors: | Iyogun Paul |
Keywords: | heuristics |
Many heuristics exist for the single-item dynamic lot-size problem, for example, the Silver-Meal, the part period balancing and a simple variant of the part period balancing. The worst case performances of these heuristics have been shown to be zero, 1/3 and 1/2 respectively. These heuristics can be generalized to the dynamic version of the joint replenishment problem, that is, the multi-product dynamic lot-size problem. Such a generalization of the Silver-Meal heuristic has been shown to perform well on a set of test problems. This paper generalizes the part period balancing heuristic, and a simple variant of it to the multi-product dynamic lot-size problem, and shows that the worst case performances of the generalized heuristics remain 1/3 and 1/2 respectively. An improved version of the generalized Silver-Meal heuristic is also given.