Solving single-product economic lot-sizing problem with non-increasing setup cost,constant capacity and convex inventory cost in O(N log N) time |
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| Authors: | Yi Feng Shaoxiang Chen Arun Kumar Bing Lin |
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| Affiliation: | 1. School of Management and Economics, University of Electronic Science and Technology of China, Chengdu 610054, China;2. Nanyang Business School, Nanyang Technological University, 50 Nanyang Avenue, Singapore 639798, Singapore;3. School of Aerospace, Mechanical and Manufacturing Engineering, RMIT University, 124 LaTrobe Street, Melbourne, VIC 3000, Australia |
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| Abstract: | This paper considers an economic lot sizing model with constant capacity, non-increasing setup cost, and convex inventory cost function. Algorithms with computational time of O(N×TDN)have been developed for solving the model, where N is the number of planning periods and TDN is the total demand. This study partially characterizes the optimal planning structure of the model. A new efficient algorithm with computational time of O(N log N) has also been developed based on the partial optimal structure. Moreover, computational study demonstrates that the new algorithm is efficient. |
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| Keywords: | Inventory Dynamic programming Stochastic programming Algorithm complexity |
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