Single-Item Dynamic Lot-Sizing Models With Bounded Inventory and Outsourcing

Feng Chu · Chengbin Chu

24 citations0/0 files storedIEEE Transactions on Systems Man and Cybernetics - Part A Systems and Humans

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Supply Chain and Inventory Management Scheduling and Optimization Algorithms Optimization and Mathematical Programming

Abstract

This paper addresses a real-life lot-sizing problem which can be considered a single-item dynamic lot-sizing problem with bounded inventory. The particularity is that the demand of a period can be entirely or partially outsourced with an outsourcing cost. The goal is to minimize the total cost of production, setup, inventory holding, and outsourcing. The cost functions are linear but time-varying. We assume that the unit production cost is constant or nonincreasing over time. The problem is shown to be solvable in a strongly polynomial time with a dynamic-programming approach. The proposed algorithm can solve problems of sizes of up to 400 periods in less than 2 ms on a 1.4-GHz Pentium IV processor.

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References

1958Dynamic Version of the Economic Lot Size Model 2004Dynamic Version of the Economic Lot Size Model 1991A Simple Forward Algorithm to Solve General Dynamic Lot Sizing Models with n Periods in 0(n log n) or 0(n) Time 1993Improved Algorithms for Economic Lot Size Problems 1966A Deterministic Multi-Period Production Scheduling Model with Backlogging 1973Bounded Production and Inventory Models with Piecewise Concave Costs 1978An Algorithm for the Dynamic Lot-Size Problem with Time-Varying Production Capacity Constraints 2003The single-item lot-sizing problem with immediate lost sales

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