Dynamic Lot-Sizing When Demand Timing Is Uncertain

1 April 1984

journal article
Published by Institute for Operations Research and the Management Sciences (INFORMS) in Operations Research

Vol. 32 (2) , 362-379
https://doi.org/10.1287/opre.32.2.362

Abstract

We characterize optimal solutions for the dynamic lot-sizing problem when demand quantities are known, but their timing is uncertain. The characterization states that for some possible history of demands following a period of production, there is a period with zero inventory before another period with production. Using this characterization, we outline a dynamic program for the solution of these problems. Some results from sample problems illustrate the variety of optimal solutions that can occur.

Keywords

OPTIMAL
LOT SIZING
OUTLINE
ILLUSTRATE
HISTORY
TIMING IS UNCERTAIN
DYNAMIC LOT
PERIOD OF PRODUCTION

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