A NOTE ON 'THE EFFECT OF TIME-VALUE OF MONEY ON DISCRETE TIME-VARYING DEMAND LOT-SIZING MODELS WITH LEARNING AND FORGETTING CONSIDERATIONS'

摘要

Chiu and Chen considered the problem of incorporating learning, forgetting, and the time value of money into discrete time-varying demand lot-sizing models to determine lot sizes and relevant costs. They used Wagner-Whitin Algorithm (WWA) to solve the problem. But, WWA is not generating optimal solution because of the structure of learning curve used in their paper. In this paper on the other hand, a solution algorithm for the problem is introduced based on a recurrence relationship.