98%-Effective Lot Sizing for Series Inventory Systems with Backlogging

Derek Atkins and Daning Sun
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Derek Atkins: University of British Columbia, Vancouver, British Columbia, Canada
Daning Sun: University College of the Cariboo, Kamloops, British Columbia, Canada

Operations Research, 1995, vol. 43, issue 2, 335-345

Abstract: For deterministic series inventory systems with backlogging, we show that the continuous relaxation of the best integer frequency policies is a lower bound on all feasible policies. The problem with backlogging can be reduced, in O ( n ) time, to an equivalent problem without backlogging. Therefore, based on the result of R. O. Roundy (Roundy, R. O. 1983. 94%-Effective lot-sizing in multistage assembly systems. Technical Report 674, School of Operations Research and Industrial Engineering, Cornell University, Ithaca, New York.), the best integer frequency policy provides a solution which is within 2% of the optimal.

Keywords: inventory/production; multistage inventory/production; backlogging heuristics; worse-case performance (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (15)

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