Optimum common cycle for scheduling a single-machine multiproduct system with a budgetary constraint

Abstract

This paper deals with the single machine multi-product lot size scheduling problem, and has two objectives. The first objective is to minimize the maximum aggregate inventory for the common cycle (CC) scheduling policy. A simple and easy-to-apply rule has been developed which determines the optimal production sequence that achieves this objective. The second objective is to find an optimal common cycle for minimizing the average production and inventory costs per unit time, subject to a given budgetary constraint. A method has been presented that achieves this objective

Keywords:

• lot sizing
• inventory/production
• scheduling
• common cycle optimization
• sequencing