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

In: Operations Research Proceedings 2008

Author

Listed:
  • 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)

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.

Suggested Citation

  • Irena Okhrin & Knut Richter, 2009. "The Single Item Dynamic Lot Sizing Problem with Minimum Lot Size Restriction," Springer Books, in: Bernhard Fleischmann & Karl-Heinz Borgwardt & Robert Klein & Axel Tuma (ed.), Operations Research Proceedings 2008, chapter 15, pages 91-96, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-00142-0_15
    DOI: 10.1007/978-3-642-00142-0_15
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