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Note---Performance Bounds for Lot Sizing Heuristics

Author

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  • Sven Axsäter

    (Luleå University of Technology, S-951 87 Luleå, Sweden)

Abstract

This paper deals with the classical dynamic lot size problem without backlogging and capacity limitation. We derive worst case performance bounds for a class of lot sizing heuristics. When the considered methods are applied a decision whether to have a set-up or not in a certain period is taken without regarding the future demand. It is shown that 2 is a lower bound for the worst case performance ratio for such heuristics. The results illustrate circumstances under which the approximate techniques fail.

Suggested Citation

  • Sven Axsäter, 1985. "Note---Performance Bounds for Lot Sizing Heuristics," Management Science, INFORMS, vol. 31(5), pages 634-640, May.
    • Handle: RePEc:inm:ormnsc:v:31:y:1985:i:5:p:634-640
    DOI: 10.1287/mnsc.31.5.634
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    Cited by:

    1. van den Heuvel, W.J. & Wagelmans, A.P.M., 2008. "A holding cost bound for the economic lot-sizing problem with time-invariant cost parameters," Econometric Institute Research Papers EI 2008-10, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    2. Wilco Van den Heuvel & Albert P. M. Wagelmans, 2010. "Worst-Case Analysis for a General Class of Online Lot-Sizing Heuristics," Operations Research, INFORMS, vol. 58(1), pages 59-67, February.

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