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| Author: | Chand, S. Sethi, S. P. Proth, J. M. |
| Title: | Existence of forecast horizons in undiscounted discrete-time lot size models. |
| Journal: | Operations Research
1990 : SEP-OCT, VOL. 38:5, p. 884-892 |
| Index terms: | INVENTORY CONTROL LOT-SIZE MODEL DYNAMIC PROGRAMMING |
| Language: | eng |
| Abstract: | The dynamic lot size model is specified. The most significant contribution is the determination of an upper bound on how many initial periods with stationarity are sufficient to ascertain the optimality of the economic order quantity as the production lot size to be produced in period one. The upper bound is given and the optimality of the first production lot size holds for arbitrary demands and cost parameters beyond the initial few periods. In the context of forecast horizon theory, conditions for a finite forecast horizon to exist in the discrete-time undiscounted dynamic lot size model are provided. The existence results for forecast horizons in an undiscounted optimization problem are obtained for the first time. |
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