Optimization Models for Solving Lot-Sizing Problems - Softcover

Mohammadi, Maryam; Nassiri, Fardokht; Malek, Afagh

Softcover

ISBN 10: 3659170704 ISBN 13: 9783659170706

Publisher: LAP LAMBERT Academic Publishing, 2012

Synopsis

In this book, a mixed integer programming (MIP) model formulation has been proposed to find out the optimum order quantity, optimum order time, and the minimum total cost of purchasing, ordering, and holding over the predefined planning horizon. Several forecasting techniques have been used to determine future demands. As in reality the price is not always stable, the prices of the parts were estimated. The companies also need an adequate amount of safety stock on hand to avoid stock-outs due to the uncertainty in demand; therefore, optimal safety stock for each part was calculated based on variance in demand, lead time and the target service level. Material requirements planning (MRP) was also done to obtain the economic purchasing schedule of parts. GAMS software was used to validate the model. Accordingly, the model was utilized to find out the optimum solutions of the lot sizing problem using LINGO software.

About this title

About the Author

Maryam Mohammadi, received Bachelor’s degree in Industrial Engineering from Islamic Azad University - South Tehran Branch in 2009, and Master’s degree in Industrial Engineering program from Universiti Teknologi Malaysia (UTM) in 2012. Her research interests are in production planning and control, supply chain management, and operation research.

Edition details

• Publisher: LAP LAMBERT Academic Publishing
• Publication date: 2012
• Language: English
• ISBN 10: 3659170704
• ISBN 13: 9783659170706
• Binding: Paperback
• Number of pages: 344