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3663. Dimensional Analysis and Solution Estimates of Economic Lot Sizing Problem
Invited abstract in session WA-49: Stochastic inventory systems, stream Lot Sizing, Lot Scheduling and Production Planning.
Wednesday, 8:30-10:00Room: M1 (building: 101)
Authors (first author is the speaker)
1. | Joao Miranda
|
ESTGD and VALORIZA/IPPortalegre; CERENA/IST | |
2. | Mariana Nagy
|
UAV Arad | |
3. | Miguel Casquilho
|
IST, Univ. de Lisboa |
Abstract
The Economic Lot Size (ELS) problem allows a very efficient resolution, and it is often used as sub-problem of more complex Optimization problems. Namely, the ELS substructure can be found through suitable decomposition in diverse real world problems, such as batch scheduling, capacity expansion, facility location, production-distribution networks, or in the long range planning problem. An extensive study of single product uncapacitated ELS instances is carried out, and optimal estimates for the ELS problem are treated through dimensionless ratios and quotients: in one hand, by correlating the objective function ‘s minimum value and the instance parameters; in the other hand, through a solution procedure that indicates the optimal binary solution and, in sequence, the production and stocking quantities. The related results are presented and analyzed, namely in what regards the application of dimensional analysis in the ELS instances at hand. Finally, future developments are outlined and discussed, including the potential extension to other Optimization problems of both dimensional analysis and associated approximation procedures.
Keywords
- Complexity and Approximation
- Engineering Optimization
Status: accepted
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