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An Improved Lot Sizing Policy for Variable Demand

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CAD/CAM Robotics and Factories of the Future ’90

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Abstract

The methodology and usefulness of a new lot sizing policy for variable demand pattern termed Dynamic Least Incremental cost policy (DLIC) is describe. It is compared with the well known policies using a variety of demand patterns. The superiority of DLIC has been well established considering different performance criteria. It performs equally well like WWA when Eoq/D and CV are less than or equal to 1.5 and 1.17 respectively.

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References

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Author information

Authors and Affiliations

  1. HMT Ltd., Kalamassery Cochin, India

    M. D. Sreekumar

  2. Department of Mechanical Engineering, Indian Institute of Technology, Madras, India

    C. Eswara Reddy & O. V. Krishnaiah Chetty

Authors
  1. M. D. Sreekumar
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  2. C. Eswara Reddy
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  3. O. V. Krishnaiah Chetty
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Editor information

Editors and Affiliations

  1. Department of Mechanical and Aerospace Engineering, West Virginia University, 26506-6101, Morgantown, WV, USA

    Suren N. Dwivedi

  2. Department of Mechanical Engineering Technology, Old Dominion University, 23508, Norfolk, VA, USA

    Alok K. Verma (Chairman) (Chairman)

  3. Concurrent Engineering Research Center, West Virginia University, 26506, Morgantown, WV, USA

    John E. Sneckenberger

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© 1991 Springer-Verlag Berlin Heidelberg

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Sreekumar, M.D., Reddy, C.E., Chetty, O.V.K. (1991). An Improved Lot Sizing Policy for Variable Demand. In: Dwivedi, S.N., Verma, A.K., Sneckenberger, J.E. (eds) CAD/CAM Robotics and Factories of the Future ’90. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-58214-1_17

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  • DOI: https://doi.org/10.1007/978-3-642-58214-1_17

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-63504-5

  • Online ISBN: 978-3-642-58214-1

  • eBook Packages: Springer Book Archive

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