Note---Performance Bounds for Lot Sizing Heuristics

Sven Axsäter
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Sven Axsäter: Luleå University of Technology, S-951 87 Luleå, Sweden

Management Science, 1985, vol. 31, issue 5, 634-640

Abstract: This paper deals with the classical dynamic lot size problem without backlogging and capacity limitation. We derive worst case performance bounds for a class of lot sizing heuristics. When the considered methods are applied a decision whether to have a set-up or not in a certain period is taken without regarding the future demand. It is shown that 2 is a lower bound for the worst case performance ratio for such heuristics. The results illustrate circumstances under which the approximate techniques fail.

Keywords: inventory/production: deterministic models; inventory/production: planning horizon; heuristics (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:31:y:1985:i:5:p:634-640

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