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  1. Wang, P. (Ed.)
    Dynamic Lot Sizing problem and its variations has been widely used for the scheduling of the productions and inventories. When demands are uncertain, one can use the mean of historical data or the expected value, which is a point estimate of demand. In addition to the mean, this work considers another point estimate, which is called median. We show that the total backorders, as the result of capacity limitation and uncertain demand, can be lower when median is used instead of the mean. It is shown that for an asymmetric distribution, the total backorder is lower significantly when median ismore »used. Furthermore, when demand follows a symmetric distribution, the total backorder do not differ significantly between the two point estimates.« less
    Free, publicly-accessible full text available January 1, 2023