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The economic lot scheduling problem with finite backorder costs
Author(s) -
Gallego Guillermo,
Roundy Robin
Publication year - 1992
Publication title -
naval research logistics (nrl)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.665
H-Index - 68
eISSN - 1520-6750
pISSN - 0894-069X
DOI - 10.1002/1520-6750(199208)39:5<729::aid-nav3220390510>3.0.co;2-n
Subject(s) - scheduling (production processes) , mathematical optimization , holding cost , computer science , job shop scheduling , constant (computer programming) , operations research , upper and lower bounds , schedule , mathematics , mathematical analysis , operating system , programming language
We are concerned with the problem of scheduling m items, facing constant demand rates, on a single facility to minimize the long‐run average holding, backorder, and setup costs. The inventory holding and backlogging costs are charged at a linear time weighted rate. We develop a lower bound on the cost of all feasible schedules and extend recent developments in the economic lot scheduling problem, via time‐varying lot sizes, to find optimal or near‐optimal cyclic schedules. The resulting schedules are used elsewhere as target schedules when demands are random. © 1992 John Wiley & Sons, Inc.