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An algorithm for single-item economic lot-sizing problem with general inventory cost, non-decreasing capacity, and non-increasing setup and production cost |
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| Authors: | Shaoxiang Chen Arun Kumar |
| Institution: | a Nanyang Business School, Nanyang Technological University, 50 Nanyang Avenue, Singapore 639798, Singapore b School of Management, Zhejiang University, ZiJinGang Campus, Hangzhou 310058, China c Center for Supply Chain Management, School of Mechanical & Aerospace Engineering, Nanyang Technological University, Singapore |
| Abstract: | This paper considers an economic lot-sizing model with non-decreasing capacity constraint, non-increasing setup cost and production cost, and a general inventory cost. We prove that when periodic starting inventory is not less than a certain critical value, it is optimal to produce nothing; this critical value can be computed easily which results in a new effective algorithm. |
| Keywords: | Production Inventory Dynamic programming Algorithm Algorithm complexity |
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