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An optimal algorithm for the basic period approach to the economic lot scheduling problem

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  • Grznar, J.
  • Riggle, C.

Abstract

This paper develops a global optimum solution to the Economic Lot Scheduling Problem (ELSP) using the restrictions of the basic period approach as originally formulated by Bomberger. The ELSP is a classic problem in production which involves scheduling multiple products on a single facility, with the restriction that no two products may be produced at the same time. Ideally, a manufacturer could generate a schedule which would minimize the sum of setup and holding costs, but the complexities involved have so far precluded the attainment of such an ideal. This article presents a real time solution method for practical sized problems using the basic period version of the ELSP. The authors believe this is the first global optimal algorithm for the basic period ELSP to be presented in the literature. It is anticipated that future research will extend the idea presented in this article to cover more general approaches to the ELSP.

Suggested Citation

  • Grznar, J. & Riggle, C., 1997. "An optimal algorithm for the basic period approach to the economic lot scheduling problem," Omega, Elsevier, vol. 25(3), pages 355-364, June.
    • Handle: RePEc:eee:jomega:v:25:y:1997:i:3:p:355-364
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    References listed on IDEAS

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    Cited by:

    1. Kim, Taebok & Hong, Yushin & Chang, Soo Young, 2006. "Joint economic procurement--production-delivery policy for multiple items in a single-manufacturer, multiple-retailer system," International Journal of Production Economics, Elsevier, vol. 103(1), pages 199-208, September.
    2. Yan, Changyuan & Liao, Yi & Banerjee, Avijit, 2013. "Multi-product lot scheduling with backordering and shelf-life constraints," Omega, Elsevier, vol. 41(3), pages 510-516.
    3. Chang, Ping-Teng & Yao, Ming-Jong & Huang, Shih-Fen & Chen, Chia-Tsung, 2006. "A genetic algorithm for solving a fuzzy economic lot-size scheduling problem," International Journal of Production Economics, Elsevier, vol. 102(2), pages 265-288, August.
    4. Khoury, B. N. & Abboud, N. E. & Tannous, M. M., 2001. "The common cycle approach to the ELSP problem with insufficient capacity," International Journal of Production Economics, Elsevier, vol. 73(2), pages 189-199, September.

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