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A perfect lot‐tree procedure for the discounted dynamic lot‐size problem with speculation

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  • Michael Bastian

Abstract

This article considers the dynamic lot‐size problem under discounting, allowing a speculative motive for holding inventory. A forward procedure is developed that determines the first lot‐size decision in a rolling horizon environment by using forecast data of the minimum possible number of future periods. © 1992 John Wiley & Sons, Inc.

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  • Michael Bastian, 1992. "A perfect lot‐tree procedure for the discounted dynamic lot‐size problem with speculation," Naval Research Logistics (NRL), John Wiley & Sons, vol. 39(5), pages 651-668, August.
    • Handle: RePEc:wly:navres:v:39:y:1992:i:5:p:651-668
    DOI: 10.1002/1520-6750(199208)39:53.0.CO;2-9
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    1. James C. Bean & Robert L. Smith, 1984. "Conditions for the Existence of Planning Horizons," Mathematics of Operations Research, INFORMS, vol. 9(3), pages 391-401, August.
    2. Suresh Chand & Thomas E. Morton, 1986. "Minimal forecast horizon procedures for dynamic lot size models," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 33(1), pages 111-122, February.
    3. Harvey M. Wagner & Thomson M. Whitin, 1958. "Dynamic Version of the Economic Lot Size Model," Management Science, INFORMS, vol. 5(1), pages 89-96, October.
    4. Gary D. Eppen & F. J. Gould & B. Peter Pashigian, 1969. "Extensions of the Planning Horizon Theorem in the Dynamic Lot Size Model," Management Science, INFORMS, vol. 15(5), pages 268-277, January.
    5. Willard I. Zangwill, 1969. "A Backlogging Model and a Multi-Echelon Model of a Dynamic Economic Lot Size Production System--A Network Approach," Management Science, INFORMS, vol. 15(9), pages 506-527, May.
    6. Rolf A. Lundin & Thomas E. Morton, 1975. "Planning Horizons for the Dynamic Lot Size Model: Zabel vs. Protective Procedures and Computational Results," Operations Research, INFORMS, vol. 23(4), pages 711-734, August.
    7. Chung-Yee Lee & Eric V. Denardo, 1986. "Rolling Planning Horizons: Error Bounds for the Dynamic Lot Size Model," Mathematics of Operations Research, INFORMS, vol. 11(3), pages 423-432, August.
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    Cited by:

    1. Gavirneni, Srinagesh & Morton, Thomas E., 1999. "Inventory control under speculation: Myopic heuristics and exact procedures," European Journal of Operational Research, Elsevier, vol. 117(2), pages 211-221, September.
    2. 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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