Approximation Formulations for the Single-Product Capacitated Lot Size Problem

Gabriel R. Bitran and Hirofumi Matsuo
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Gabriel R. Bitran: Massachusetts Institute of Technology, Cambridge, Massachusetts
Hirofumi Matsuo: University of Texas, Austin, Texas

Operations Research, 1986, vol. 34, issue 1, 63-74

Abstract: We consider two approximation formulations for the single-product capacitated lot size problem. One formulation restricts the number of production policies and the other rounds demands up to multiples of a constant. After briefly reviewing the literature within a new framework, we discuss the relations between these approximation formulations. Next, we provide relative error bounds and algorithms for solving the approximation problems. We demonstrate that these approximation formulations require a significantly smaller number of calculations than the original formulation, and that the relative error bounds are satisfactory for practical purposes.

Keywords: 114 deterministic dynamic programming; 334 lot-sizing under capacity constraints; 581 aggregate production planning (search for similar items in EconPapers)
Date: 1986
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:34:y:1986:i:1:p:63-74

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