Economic-Lot-Size Formulas in Manufacturing

Andrew Vazsonyi
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Andrew Vazsonyi: Ramo-Wooldridge Corporation, Los Angeles, California

Operations Research, 1957, vol. 5, issue 1, 28-44

Abstract: Economic-lot-size formulas result in order quantities that minimize combined inventory and set-up (and ordering) costs. In manufacturing problems, economic-lot-size formulas may result in unrealizable schedules---in some production periods the shop may not be able to meet requirements, whereas at other times slack periods that result in idleness may occur. This paper describes a technique that permits the computation of order quantities so that requirements are met with available labor and machines. The technique involves a simple step-by-step computation particularly adaptable to electronic computers.

Date: 1957
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:5:y:1957:i:1:p:28-44

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