This paper considers the Economic Lot Scheduling Problem, that is, the problem of scheduling several products on a single facility so as to minimize holding and setup costs. Combination of frequency and timing as well as production quantity make this problem Np-hard. A heuristic is developed to obtain a good solution to ELSP. The proposed heuristic makes use of the Simulated Annealing Technique. This heuristic gives a sharper upper bound upper bound to holding and setup costs.

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