Problem Status
The problem is well known in the operations research community, and a large body of academic research work has been created to improve the model and to create new variations that solve specific issues.
The model is known as a NP-hard problem since it is not currently possible to find the optimal solution without checking nearly every possibility. What has been done follows two approaches: restricting the solution to be of a specific type (which makes it possible to find the optimal solution for the narrower problem), or approximate solution of the full problem using heuristics or genetic algorithms.
Read more about this topic: Economic Lot Scheduling Problem
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