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A multi-item economic lot-sizing problem

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1 Author(s)

In many inventory management systems, situations arise in which ordering time and ordering quantity of an item are interrelated with those for other items. In some of these cases, consideration of the interrelationship among items is mandatory. This can happen for a group of items, for instance, if there is a budgetary limit on the total dollar value of inventory that may be carried for the group, or if a limit exists on warehouse capacity available for storing items in the group.' In other cases, consideration of the interrelationship is optional, the interrelationship being considered only when the added complexity in decision-making is outweighed by the added benefits expected to be gained.

Note: The Institute of Electrical and Electronics Engineers, Incorporated is distributing this Article with permission of the International Business Machines Corporation (IBM) who is the exclusive owner. The recipient of this Article may not assign, sublicense, lease, rent or otherwise transfer, reproduce, prepare derivative works, publicly display or perform, or distribute the Article.  

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IBM Systems Journal  (Volume:7 ,  Issue: 1 )