Dynamic uncapacitated lot sizing with random demand under a fillrate constraint

Dynamic uncapacitated lot sizing with random demand under a fillrate constraint

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Article ID: iaor20114558
Volume: 212
Issue: 3
Start Page Number: 497
End Page Number: 507
Publication Date: Aug 2011
Journal: European Journal of Operational Research
Authors: ,
Keywords: heuristics
Abstract:

This paper deals with the single-item dynamic uncapacitated lot sizing problem with random demand. We propose a model based on the ‘static uncertainty’ strategy. We use exact expressions for the inventory costs and we apply a fillrate constraint. We present an exact solution method and modify several well-known dynamic lot sizing heuristics such that they can be applied for the case of dynamic stochastic demands. A numerical experiment shows that there are significant differences in the performance of the heuristics whereat the ranking of the heuristics is different from that reported for the case of deterministic demand.

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