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
Famous quotes containing the words problem and/or status:
“Most childhood problems don’t result from “bad” parenting, but are the inevitable result of the growing that parents and children do together. The point isn’t to head off these problems or find ways around them, but rather to work through them together and in doing so to develop a relationship of mutual trust to rely on when the next problem comes along.”
—Fred Rogers (20th century)
“As a work of art it has the same status as a long conversation between two not very bright drunks.”
—Clive James (b. 1939)