The Single Item Dynamic Lot Sizing Problem with Minimum Lot Size Restriction

Irena Okhrin () and Knut Richter ()
Additional contact information
Irena Okhrin: Otto-von-Guericke-University Magdeburg, Juniorprofessur in Information and Operations Management, European University Viadrina
Knut Richter: European University Viadrina, Department of Industrial Management

Chapter 15 in Operations Research Proceedings 2008, 2009, pp 91-96 from Springer

Abstract: Summary In practise, production managers prefer to determine an optimal production plan by using minimum lot size restrictions instead of setup cost [3, 5]. Anderson and Cheah [1] also noticed, that in “lot sizing practice out-of-pocket setup cost are commonly accounted for by specifying a minimum batch size parameter”. Therefore, the objective is to minimize the total inventory cost only with respect to the lot size restrictions, and not the sum of setup cost and inventory cost, as in mainstream models. In the paper we formulate the single item dynamic lot sizing problem with minimum lot size restriction and elaborate a dynamic programming algorithm for its solution. The preliminary computational results show that the algorithm is highly efficient and determines optimal solutions in negligible time.

Date: 2009
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-00142-0_15

Ordering information: This item can be ordered from
http://www.springer.com/9783642001420

DOI: 10.1007/978-3-642-00142-0_15

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().