Article2004

Dynamic Version of the Economic Lot Size Model

2,055 citations0/0 files storedManagement Science

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Supply Chain and Inventory Management Management and Optimization Techniques Optimization and Mathematical Programming

Abstract

A forward algorithm for a solution to the following dynamic version of the economic lot size model is given: allowing the possibility of demands for a single item, inventory holding charges, and setup costs to vary over N periods, we desire a minimum total cost inventory management scheme which satisfies known demand in every period. Disjoint planning horizons are shown to be possible which eliminate the necessity of having data for the full N periods.

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Cited by

1997Quantitative models for reverse logistics: A review 1984Network Design and Transportation Planning: Models and Algorithms 1982Perishable Inventory Theory: A Review 1995Lot Sizing with Random Yields: A Review 1995Global Sensitivity Analysis 2021Smart “Predict, then Optimize”2002Flow Coordination and Information Sharing in Supply Chains: Review, Implications, and Directions for Future Research 2005Supply Chain Collaboration:

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