Lot Sizing and Work-in-Process Inventories in Single Stage Production Systems
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This work modifies the classical deterministic production lot size model for single stage manufacturing systems, by incorporating the effects of work-in-process inventories. The results obtained from the relatively simple single input case are used to develop a heuristic solution algorithm, involving an efficient search technique, for obtaining a solution for the model under the more general and complex multiple inputs scenario. This solution procedure is illustrated through a numerical example.
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