Analysis of the uncapacitated dynamic lot size problem (original) (raw)

This paper investigates heuristics for the uncapacitated dynamic lot size problem, which is crucial in production planning and inventory control. It evaluates existing approaches, particularly the Silver and Meal heuristic, revealing its worst-case errors and proposing alternative heuristics with improved relative error bounds. The analysis also covers the impact of planning horizon reduction and the aggregation of products based on parameter proportionality, ultimately suggesting more robust strategies for practitioners facing complex inventory decisions.