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Computing Optimal Lot Sizes in the Economic Lot Scheduling Problem

Author

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  • Paul H. Zipkin

    (Columbia University, New York, New York)

Abstract

This paper treats a version of the Economic Lot Scheduling Problem (ELSP) in which items may be produced several times in different amounts during a cycle. We show how to compute the optimal lot sizes and cycle length, given the sequence of items in a cycle. This requires solving a parametric quadratic program, plus a few EOQ calculations. Our procedure is designed to be used along with a heuristic for selecting the sequence of items in a cycle, such as the one proposed in 1987 by G. Dobson. The two algorithms together comprise a simple, plausible heuristic for the ELSP as a whole.

Suggested Citation

  • Paul H. Zipkin, 1991. "Computing Optimal Lot Sizes in the Economic Lot Scheduling Problem," Operations Research, INFORMS, vol. 39(1), pages 56-63, February.
    • Handle: RePEc:inm:oropre:v:39:y:1991:i:1:p:56-63
    DOI: 10.1287/opre.39.1.56
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