Average cost estimation of lot-sizing heuristics

Research output: Contribution to journalArticlepeer-review

Abstract

The average cost for the dynamics lot-sizing model is defined as sum of all costs associated with feasible solutions, divided by the number of these solutions. This benchmark is used to estimate the MCA heuristic (Groff) and the Silver-Meal-heuristic. The first heuristic is found to produce solutions with cost not higher than average in all inventory periods and some ordering periods while the second one is shown to provide solutions with cost higher than average in the worst case.

Original languageEnglish
Pages (from-to)341-345
Number of pages5
JournalInternational Journal of Production Economics
Volume26
Issue number1-3
DOIs
StatePublished - Feb 1992
Externally publishedYes

Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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