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Article citations

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H. M. Wagner and T. M. Whitin, “Dynamic Version of the Economic Lot Size Model,” Management Science, Vol. 5, No. 1, 1958, pp. 89-96. http://dx.doi.org/10.1287/mnsc.5.1.89

has been cited by the following article:

  • TITLE: An Algorithm for Infinite Horizon Lot Sizing with Deterministic Demand

    AUTHORS: Milan Horniaček

    KEYWORDS: Natural Asset; Financial Value; Neural Network

    JOURNAL NAME: Applied Mathematics, Vol.5 No.2, January 17, 2014

    ABSTRACT: We analyze an infinite horizon discrete time inventory model with deterministic but non-stationary demand for a single product at a single stage. There is a finite cycle of vectors of characteristics of the environment (demand, fixed ordering cost, variable procurement cost, holding cost) which is repeated after a finite number of periods. Future cost is discounted. In general, minimization of the sum of discounted total cost over the cycle does not give the minimum of the sum of discounted total cost over the infinite horizon. We construct an algorithm for computing of an optimal strategy over the infinite horizon. It is based on a forward in time dynamic programming recursion.