The Effect of Externalizing Setups in the Economic Lot Scheduling Problem

Guillermo Gallego and Ilkyeong Moon
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Guillermo Gallego: Columbia University, New York, New York
Ilkyeong Moon: Columbia University, New York, New York

Operations Research, 1992, vol. 40, issue 3, 614-619

Abstract: This paper considers the Economic Lot Scheduling Problem with Reducible Setup Times (ELSP-RS), that is, determining a multiple product, single facility cyclic schedule to minimize holding and setup costs when setup times can be reduced, at the expense of setup costs, by externalizing setup operations. We develop an efficient algorithm that finds an optimal or near-optimal production schedule. Computational results indicate that dramatic savings are possible for highly utilized facilities.

Keywords: production/scheduling: economic lot sizing problem; production/scheduling; approximations/heuristic: setup time reduction (search for similar items in EconPapers)
Date: 1992
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