Fast Solution and Detection of Minimal Forecast Horizons in Dynamic Programs with a Single Indicator of the Future: Applications to Dynamic Lot-Sizing Models
In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a limited set of adjacent or nearby stages. This holds in particular for planning problems over time, where an optimal decision in a given perio...
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| Vydané v: | Management science Ročník 41; číslo 5; s. 874 - 893 |
|---|---|
| Hlavní autori: | , |
| Médium: | Journal Article |
| Jazyk: | English |
| Vydavateľské údaje: |
Linthicum, MD
INFORMS
01.05.1995
Institute for Operations Research and the Management Sciences |
| Edícia: | Management Science |
| Predmet: | |
| ISSN: | 0025-1909, 1526-5501 |
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| Abstract | In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a limited set of adjacent or nearby stages. This holds in particular for planning problems over time, where an optimal decision in a given period depends on information related to a limited future time horizon, a so-called forecast horizon, only. In this paper we identify a general class of dynamic programs in which an efficient forward algorithm can be designed to solve the problem and to identify minimal forecast horizons. Such a procedure specifies necessary and sufficient conditions for a stage to arise as a forecast horizon. This class of dynamic programs includes the single-item dynamic lot-sizing model with general concave costs, both with and without backlogging, to which special attention is given. |
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| AbstractList | In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a limited set of adjacent or nearby stages. This holds in particular for planning problems over time, where an optimal decision in a given period depends on information related to a limited future time horizon, a so-called forecast horizon, only. In this paper we identify a general class of dynamic programs in which an efficient forward algorithm can be designed to solve the problem and to identify minimal forecast horizons. Such a procedure specifies necessary and sufficient conditions for a stage to arise as a forecast horizon. This class of dynamic programs includes the single-item dynamic lot-sizing model with general concave costs, both with and without backlogging, to which special attention is given. In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a limited set of adjacent or nearby stages. This holds in particular for planning problems over time, where an optimal decision in a given period depends on information related to a limited future time horizon, a so-called forecast horizon, only. A general class of dynamic programs in which an efficient forward algorithm can be designed to solve the problem and to identify minimal forecast horizons. Such a procedure specifies necessary and sufficient conditions for a stage to arise as a forecast horizon. This class of dynamic programs includes the single-item dynamic lot-sizing model with general concave costs, both with and without backlogging to which special attention is given. In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a limited set of adjacent or nearby stages. This holds in particular for planning problems over time, where an optimal decision in a given period depends on information related to a limited future time horizon, a so-called forecast horizon, only. In this paper we identify a general class of dynamic programs in which an efficient forward algorithm can be designed to solve the problem and to identify minimal forecast horizons. Such a procedure specifies necessary and sufficient conditions for a stage to arise as a forecast horizon. This class of dynamic programs includes the single-item dynamic lot-sizing model with general concave costs, both with and without backlogging, to which special attention is given. |
| Author | Tzur, Michal Federgruen, Awi |
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| Copyright | Copyright 1995 Institute for Operations Research and the Management Sciences 1995 INIST-CNRS Copyright Institute for Operations Research and the Management Sciences May 1995 |
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| DOI | 10.1287/mnsc.41.5.874 |
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| Keywords | Algorithms Material requirements planning Production control Supply Lot sizing Optimal planning Fast algorithm Dynamic model Forecast model Modeling Method study |
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| Snippet | In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e., information pertaining to a... In most dynamic planning problems, one observes that an optimal decision at any given stage depends on limited information, i.e. information pertaining to a... |
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| SubjectTerms | Algorithms applications to lotsizing Applied sciences Carrying costs Cost efficiency Cost functions Cost structure Dynamic modeling Dynamic programming Dynamics Exact sciences and technology fast solution and detection Forecasting Forecasting models Forecasts Information Integers Inventory control, production control. Distribution Management Management science Mathematical independent variables Mathematical models minimal forecast horizons Operational research and scientific management Operational research. Management science Roots of functions Studies |
| Title | Fast Solution and Detection of Minimal Forecast Horizons in Dynamic Programs with a Single Indicator of the Future: Applications to Dynamic Lot-Sizing Models |
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