TY - JOUR
T1 - An efficient algorithm for the dynamic economic lot size problem
AU - Golany, B.
AU - Maman, R.
AU - Yadin, M.
N1 - Funding Information:
t This research was partially supported by the Technion V.P.R. Fund-Y. Apter Research Fund. $ Boaz Golany is an assistant professor in the Industrial Engineering and Management department at The Technion-Israel Institute of Technology. His research areas are mainly in applications of Operations Research to Industrial Engineering, in particular, in efficiency evaluation, plant layout and production management. He holds a Ph.D. from the University of Texas in Austin and a B.Sc. from The Technion.
PY - 1992/8
Y1 - 1992/8
N2 - This paper addresses the question of production/procurement planning for finite horizon, deterministic, dynamic demand process, known as the "Dynamic Economic Lot size Problem". A new algorithm is presented and compared to existing exact procedures. The algorithm first decomposes the problem into much smaller sequences (planning horizons). It then applies an exact method to schedule the production in each sequence (this stage is illustrated here with the "classical" dynamic programming algorithm of Zangwill [8]). Finally, it combines the partial solutions to an overall optimal solution. Camputational results which demonstrate the effectiveness of the proposed algorithm are provided.
AB - This paper addresses the question of production/procurement planning for finite horizon, deterministic, dynamic demand process, known as the "Dynamic Economic Lot size Problem". A new algorithm is presented and compared to existing exact procedures. The algorithm first decomposes the problem into much smaller sequences (planning horizons). It then applies an exact method to schedule the production in each sequence (this stage is illustrated here with the "classical" dynamic programming algorithm of Zangwill [8]). Finally, it combines the partial solutions to an overall optimal solution. Camputational results which demonstrate the effectiveness of the proposed algorithm are provided.
UR - http://www.scopus.com/inward/record.url?scp=0026909488&partnerID=8YFLogxK
U2 - 10.1016/0305-0548(92)90004-O
DO - 10.1016/0305-0548(92)90004-O
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AN - SCOPUS:0026909488
SN - 0305-0548
VL - 19
SP - 495
EP - 504
JO - Computers and Operations Research
JF - Computers and Operations Research
IS - 6
ER -