Least Total Cost (LTC) is not a lot-sizing technique used in mrp systems. Modifying the net requirement quantities is the process of lot size in material requirements planning.
What is lot-sizing technique ?
- Prior to the net requirement quantities being converted into planned order receipts and then planned order releases in an MRP system, the process of lot sizing or batching is used in material requirements planning.
- A lot sizing procedure called lot-for-lot produces exactly the number of orders that are required. Lot or run size is equivalent to the net requirements for that period, or demand for that time, in a materials requirement planning system.
- The interplay between the choice of lot-sizing guidelines and the choice of MPS freezing parameters under rolling time horizons and various demand uncertainty situations is investigated in this work.
- The results of this study enable MRP practitioners choose the best lot-sizing rule and MPS freezing parameters and improve knowledge of multilevel MRP performance in a more realistic context.
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