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Equalization of Runout Times

Author

Listed:
  • Uday S. Karmarkar

    (The University of Rochester, Rochester, New York)

Abstract

The Equalization of Runout Times (ERT) rule has been suggested as a heuristic for allocating production capacity across a group of items with a common set up cost. A natural interpretation of this rule is given by showing that for a single allocation under certain conditions it maximizes the time at which the group will next be scheduled. An equivalent interpretation is that the rule minimizes remnant stocks. The case of multiple allocations is studied next and it is shown that applying the ERT rule myopically, minimizes the sum of discounted setup costs.

Suggested Citation

  • Uday S. Karmarkar, 1981. "Equalization of Runout Times," Operations Research, INFORMS, vol. 29(4), pages 757-762, August.
    • Handle: RePEc:inm:oropre:v:29:y:1981:i:4:p:757-762
    DOI: 10.1287/opre.29.4.757
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    Cited by:

    1. Sodhi, ManMohan S. & Sodhi, Navdeep S. & Tang, Christopher S., 2014. "An EOQ model for MRO customers under stochastic price to quantify bullwhip effect for the manufacturer," International Journal of Production Economics, Elsevier, vol. 155(C), pages 132-142.
    2. Martin Albrecht, 2021. "Component Allocation in Make-to-stock Assembly Systems," SN Operations Research Forum, Springer, vol. 2(2), pages 1-19, June.
    3. Segerstedt, Anders, 1995. "Cover-Time Planning, a method for calculation of material requirements," International Journal of Production Economics, Elsevier, vol. 41(1-3), pages 355-368, October.

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