Machine learningOptimization
Wagner-Whitin Algorithm
The Wagner-Whitin Algorithm, introduced by Harvey M. Wagner and Thomson M. Whitin in 1958, is a dynamic programming solution to the capacitated lot-sizing problem. It determines optimal production quantities over multiple periods to minimize the total cost of production setup and inventory holding while meeting deterministic demand.
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Sources
- Wagner, H. M., & Whitin, T. M. (1958). Dynamic version of the economic lot size model. Management Science, 5(1), 89-96. DOI: 10.1287/mnsc.5.1.89 ↗
- Pochet, Y., & Wolsey, L. A. (2006). Production Planning by Mixed Integer Programming. Springer. DOI: 10.1007/978-1-4613-1405-0 ↗