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| Author: | Lee, S-B. Zipkin, P. H. |
| Title: | A dynamic lot-size model with make-or-buy decisions. |
| Journal: | Management Science
1989 : APR, VOL. 35:4, p. 447-458 |
| Index terms: | LOT-SIZE MODEL INVENTORY CONTROL PRODUCTION PLANNING |
| Language: | eng |
| Abstract: | Considered is a dynamic lot-size model with make-or-buy decisions. In each period, the production level may not exceed a given capacity, but the purchase is unrestricted. The cost for production, purchase and inventory are concave. The problem is to find a minimum-cost production and purchase schedule that satisfies known demands over T periods. After characterizing the form of an optimal solution, presented is an algorithm when the production capacities are stationary. The results are further extended to the cases of backlogging, bounded inventory, and capacitated purchase. |
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