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A modified Silver–Meal heuristic for dynamic lot sizing under incremental quantity discounts

Author

Listed:
  • J Hu

    (Washington State University)

  • C L Munson

    (Washington State University)

  • E A Silver

    (University of Calgary)

Abstract

This note presents a variation of the well-known Silver–Meal heuristic to deal with lot sizing under a combination of a known, but time-varying, demand pattern along with an incremental quantity discount structure. The heuristic is shown to perform very well on a set of experiments presented in a recent paper in this journal. Additional experiments are performed to further explore the time horizon effects on the relative performance of the newly proposed heuristic compared to the two best performing ones from the previous paper.

Suggested Citation

  • J Hu & C L Munson & E A Silver, 2004. "A modified Silver–Meal heuristic for dynamic lot sizing under incremental quantity discounts," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(6), pages 671-673, June.
    • Handle: RePEc:pal:jorsoc:v:55:y:2004:i:6:d:10.1057_palgrave.jors.2601679
    DOI: 10.1057/palgrave.jors.2601679
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    References listed on IDEAS

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    1. J Hu & C L Munson, 2002. "Dynamic demand lot-sizing rules for incremental quantity discounts," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 53(8), pages 855-863, August.
    2. Harvey M. Wagner & Thomson M. Whitin, 1958. "Dynamic Version of the Economic Lot Size Model," Management Science, INFORMS, vol. 5(1), pages 89-96, October.
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    Cited by:

    1. Brahimi, Nadjib & Absi, Nabil & Dauzère-Pérès, Stéphane & Nordli, Atle, 2017. "Single-item dynamic lot-sizing problems: An updated survey," European Journal of Operational Research, Elsevier, vol. 263(3), pages 838-863.
    2. Mendoza, Abraham & Ventura, José A., 2008. "Incorporating quantity discounts to the EOQ model with transportation costs," International Journal of Production Economics, Elsevier, vol. 113(2), pages 754-765, June.
    3. Lee, Zu-Hsu & Deng, Shiming & Lin, Beixin & Yang, James G.S., 2010. "Decision model and analysis for investment interest expense deduction and allocation," European Journal of Operational Research, Elsevier, vol. 200(1), pages 268-280, January.

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