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- Title
APPROXIMATION FORMULATIONS FOR THE SINGLE-PRODUCT CAPACITATED LOT SIZE PROBLEM.
- Authors
Bitran, Gabriel R.; Matsuo, Hirofumi
- Abstract
We consider two approximation formulations for the single-product capacitated lot size problem. One formulation restricts the number of production policies and the other rounds demands up to multiples of a constant. After briefly reviewing the literature within a new framework, we discuss the relations between these approximation formulations. Next, we provide relative error bounds and algorithms for solving the approximation problems. We demonstrate that these approximation formulations require a significantly smaller number of calculations than the original formulation, and that the relative error bounds are satisfactory for practical purposes.
- Subjects
APPROXIMATION theory; PRODUCTION (Economic theory); OPERATIONS research; MANAGEMENT science; INDUSTRIAL engineering
- Publication
Operations Research, 1986, Vol 34, Issue 1, p63
- ISSN
0030-364X
- Publication type
Article
- DOI
10.1287/opre.34.1.63