Computing Optimal Lot Sizes in the Economic Lot Scheduling Problem

Paul H. Zipkin
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Paul H. Zipkin: Columbia University, New York, New York

Operations Research, 1991, vol. 39, issue 1, 56-63

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. We show how to compute the optimal 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. Our 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.

Keywords: inventory/production; multi-item; economic lot scheduling; programming; quadratic: application to production scheduling (search for similar items in EconPapers)
Date: 1991
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