@inproceedings{223f2e04aa1e4c07a01cf263665337e4,
title = "An enhanced forward dynamic programming approach for the lot size problem with time-dependent demand",
abstract = "The lot size problem for one-to-one distribution with variable demands has long been studied in logistics. The trade-offs in this problem are the transportation cost and a set of other costs, including the rent cost and the inventory cost. Conventionally, rent cost and inventory cost are considered separately. The Economic Order Quantity model is applied to the case where the rent cost dominates, whereas a heuristic-based forward dynamic programming method is usually utilized for the case where the inventory cost dominates. This paper considers the three costs jointly by proposing an enhanced forward dynamic programming approach. Properties leading to the optimal solution are identified. Sensitivity analyses are performed to examine the validity of the method for a range of cost coefficients for inventories and rents. Numerical tests are performed with different demand functions. The results indicate that the approach proposed is promising in terms of computation time and solution quality.",
keywords = "Forward dynamic programming, Inventory cost, Lot-size problem, Rent cost, Transportation cost",
author = "Y. Tian and Lin, {W. H.}",
year = "2013",
language = "English (US)",
isbn = "9789881581426",
series = "Proceedings of the 18th International Conference of Hong Kong Society for Transportation Studies, HKSTS 2013 - Travel Behaviour and Society",
publisher = "Hong Kong Society for Transportation Studies Limited",
pages = "617--624",
booktitle = "Proceedings of the 18th International Conference of Hong Kong Society for Transportation Studies, HKSTS 2013 - Travel Behaviour and Society",
note = "18th International Conference of Hong Kong Society for Transportation Studies on Travel Behaviour and Society, HKSTS 2013 ; Conference date: 14-12-2013 Through 16-12-2013",
}