The document discusses various lot sizing techniques used to determine optimal batch sizes for production and purchasing. It describes techniques like economic order quantity (EOQ), fixed order quantity (FOQ), lot-for-lot (LFL), periods of supply (POS), period order quantity (POQ), least unit cost (LUC), least total cost (LTC), and part period balancing (PPB). Examples are provided to illustrate how each technique works and the optimal lot size is calculated. The goal of lot sizing is to minimize total inventory costs by balancing setup/ordering costs and carrying costs.
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Lot Sizing Techniques
1. Lot Sizing Techniques To determine batch size for purchased or produced items Anand Subramaniam
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4. Lot Sizing & Safety Stock Lot Size Item quantity that is made or purchased. Safety Stock Quantity of stock planned to be in inventory to protect against fluctuations in demand and / or supply
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7. Example - FOQ 500 500 Planned Order Releases 500 500 Planned Receipts 150 265 450 570 200 460 80 240 370 Projected Available Scheduled Receipts 115 185 120 130 260 120 160 130 Gross Requirement 8 7 6 5 4 3 2 1 Lead Time = 2 weeks Week Safety Stock = 80 500 Order Quantity