Approximation Formulations for the Single-Product Capacitated Lot Size Problem
Gabriel R. Bitran, Hirofumi Matsuo
Operations Research · 1986 · Volume 34 · Issue 1
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.
Keywords
114 deterministic dynamic programming, 334 lot-sizing under capacity constraints, 581 aggregate production planning
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