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Multiple Finite Production Rate Dynamic Lot Size Inventory Models

Author

Listed:
  • Suresh Sethi

    (University of Toronto, Toronto, Ontario, Canada)

  • Suresh Chand

    (Purdue University, West Lafayette, Indiana)

Abstract

This paper investigates the dynamic inventory model for the case when production in a period is restricted to a finite set of specified values. The model allows the production rate to be any value in the set {0, P , 2 P , …, mP }, where m is a nonnegative integer. It is assumed that the setup cost is paid only once for a production block and the holding cost is monotonically or linearly increasing. Efficient planning horizon procedures have been developed for this model.

Suggested Citation

  • Suresh Sethi & Suresh Chand, 1981. "Multiple Finite Production Rate Dynamic Lot Size Inventory Models," Operations Research, INFORMS, vol. 29(5), pages 931-944, October.
    • Handle: RePEc:inm:oropre:v:29:y:1981:i:5:p:931-944
    DOI: 10.1287/opre.29.5.931
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    Citations

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    Cited by:

    1. Fuying Jing & Zirui Lan, 2017. "Forecast horizon of multi-item dynamic lot size model with perishable inventory," PLOS ONE, Public Library of Science, vol. 12(11), pages 1-15, November.
    2. Suresh Chand & Sunantha Teyarachakul Prime & Suresh Sethi, 2018. "Production planning with multiple production lines: Forward algorithm and insights on process design for volume flexibility," Naval Research Logistics (NRL), John Wiley & Sons, vol. 65(6-7), pages 535-549, September.
    3. Glock, Christoph H. & Grosse, Eric H., 2021. "The impact of controllable production rates on the performance of inventory systems: A systematic review of the literature," European Journal of Operational Research, Elsevier, vol. 288(3), pages 703-720.
    4. Chung-Lun Li & Vernon Ning Hsu & Wen-Qiang Xiao, 2004. "Dynamic Lot Sizing with Batch Ordering and Truckload Discounts," Operations Research, INFORMS, vol. 52(4), pages 639-654, August.
    5. Suresh Chand & Vernon Ning Hsu & Suresh Sethi, 2002. "Forecast, Solution, and Rolling Horizons in Operations Management Problems: A Classified Bibliography," Manufacturing & Service Operations Management, INFORMS, vol. 4(1), pages 25-43, September.

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