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Economic Lot Scheduling Problem with Raw Material Considerations

Author

Listed:
  • Guillermo Gallego

    (Columbia University, New York, New York)

  • Dev Joneja

    (Columbia University, New York, New York)

Abstract

We extend the traditional model of the economic lot scheduling problem by considering various issues associated with the management of the raw materials for production. Several items are produced on a single machine at finite production rates with setup times, and setup and inventory holding costs. Raw materials are used for the production of these items. In the presence of setup and holding costs for the raw materials, we first formulate a planning model which provides a sharp lower bound on the cost of any policy for the problem. The solution is used to obtain policies which are guaranteed to be very close to optimal in the worst case. Finally, we consider the problem of obtaining good feasible schedules for both the machine and the raw materials.

Suggested Citation

  • Guillermo Gallego & Dev Joneja, 1994. "Economic Lot Scheduling Problem with Raw Material Considerations," Operations Research, INFORMS, vol. 42(1), pages 92-101, February.
    • Handle: RePEc:inm:oropre:v:42:y:1994:i:1:p:92-101
    DOI: 10.1287/opre.42.1.92
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    Citations

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    Cited by:

    1. Drexl, Andreas & Kimms, Alf, 1996. "Lot sizing and scheduling: Survey and extensions," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 421, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    2. Goncalves, JoseF. & Leachman, Robert C., 1998. "A hybrid heuristic and linear programming approach to multi-product machine scheduling," European Journal of Operational Research, Elsevier, vol. 110(3), pages 548-563, November.
    3. Sungmin Kang & Kavindra Malik & L. Joseph Thomas, 1999. "Lotsizing and Scheduling on Parallel Machines with Sequence-Dependent Setup Costs," Management Science, INFORMS, vol. 45(2), pages 273-289, February.
    4. Kimms, Alf & Drexl, Andreas, 1996. "Multi-level lot sizing: A literature survey," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 405, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    5. David M. Markowitz & Martin I. Reiman & Lawrence M. Wein, 2000. "The Stochastic Economic Lot Scheduling Problem: Heavy Traffic Analysis of Dynamic Cyclic Policies," Operations Research, INFORMS, vol. 48(1), pages 136-154, February.

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