Computing optimal lot sizes in the Economic Lot Scheduling Problem

Computing optimal lot sizes in the Economic Lot Scheduling Problem

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Article ID: iaor1993442
Country: United States
Volume: 39
Issue: 1
Start Page Number: 56
End Page Number: 63
Publication Date: Jan 1991
Journal: Operations Research
Authors:
Keywords: programming: quadratic
Abstract:

This paper treats a version of the Economic Lot Scheduling Problem (ELSP) in which items may be produced several times in different amounts during a cycle. The paper shows how to compute the otpimal lot sizes and cycle length, given the sequence of items in a cycle. This requires solving a parametric quadratic program, plus a few EOQ calculations. The present procedure is designed to be used along with a heuristic for selecting the sequence of items in a cycle, such as the one proposed in 1987 by G. Dobson. The two algorithms together comprise a simple, plausible heuristic for the ELSP as a whole.

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