Lot sizes in a capacity constrained facility—a simulation study of stationary stochastic demand |
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| Institution: | 1. Department of Mathematics, University of Aveiro, 3810-193 Aveiro, Portugal;1. Institute of Mechanics, Bulgarian Academy of Sciences, Acad. G. Bonchev Str., Bl. 4, 1113 Sofia, Bulgaria;2. Max-Planck Institute for the Physics of Complex Systems, Nöthnitzerstr. 36, 01187, Dresden, Germany;1. School of Pharmacology, Hebei Medical University, Shijiazhuang 050017, Hebei, PR China;2. Department of Pharmacology, The fourth Hospital of Hebei Medical University, Shijiazhuang 050017, Hebei, PR China;1. University of Alabama at Birmingham, Department of Restorative Sciences, 1919 7th Avenue South, Birmingham, AL 35294-0007, USA;2. University of Florida, Department of Restorative Dental Sciences, Room D9-6, P.O. Box 100415, Gainesville, FL 32610-0415, USA;3. University of Alabama at Birmingham, Department of Clinical and Community Sciences, 1919 7th Avenue South, Birmingham, AL 35294-0007, USA;4. Kaiser Permanente Center for Health Research, 3800 N Interstate Avenue, Portland, OR 97227, USA;5. HealthPartners Institute for Education and Research, 8170 33rd Avenue South, Mail Stop 21111R, PO Box 1524, Bloomington, MN 55440-1524, USA;1. Bioanalytical Research Department, Lupin Bio-Research Center, Pashan, Pune 411021, Maharastra, India;2. Department of Pharmacy, Pacific University, P.B.-12 Pacific Hills, Airport Road, Pratap Nagar Extension, Debari, Udaipur 313024, Rajasthan, India |
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| Abstract: | This paper considers the scheduling of several different items on a single machine, in literature known as the economic lot scheduling problem, ELSP. One of the characteristics of this problem is that the demand rate is deterministic and constant. However, in a practical situation demand usually varies. In this paper we examine if a deterministic model can be used if demand is stationary stochastic. A dynamic programming approach from Bomberger (Manage. Sci. 12(11) (1966) 778) and a heuristic method from Segerstedt (Int. J. Production Econom. 59(1–3) (1999) 469) are used to calculate lot sizes for four items. The production of these items is simulated with different variations in demand rates. Our conclusion is that a deterministic model of this kind can be used in a practical situation where the demand rate is stationary stochastic, but the models must be complemented by a decision rule; which item to produce and when to produce it. In our tests the heuristic method and the dynamic programming approach perform rather similarly with respect to costs and inventory levels, but the dynamic programming approach results in more backorders when there is small variation in demand rates. This study indicates that the model used for determination of lot sizes is of less importance than the decision rule used for identification of the item to produce and when to produce it. |
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