The economic lot scheduling problem (ELSP) is a problem in operations management that has been studied by a large number of researchers for more than 50 years. The term was first used in 1958 by professor Jack Rogers of Berkeley, who extended the economic order quantity model to the case where there are several products to be produced on the same machine, so that one must decide both the lot size for each product and when each lot should be produced. The ELSP is a mathematical model of a common issue for almost any company or industry: planning what to manufacture, when to manufacture and how much to manufacture.
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