Planning Horizons for the Dynamic Lot Size Model with Backlogging

Joseph D. Blackburn and Howard Kunreuther
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Joseph D. Blackburn: University of Chicago
Howard Kunreuther: University of Pennsylvania

Management Science, 1974, vol. 21, issue 3, 251-255

Abstract: Planning horizons are developed for the dynamic economic lot site model with backlogging when the marginal production cost is either constant or variable. The inventory holding and backlogging cost functions are assumed to be concave. An efficient forward algorithm generalizes the Eppen-Gould-Pashigian procedure and enables us to place bounds on the optimal production plan should a horizon not be found.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:21:y:1974:i:3:p:251-255

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