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In this paper, we analyze the worst-case performance of heuristics for the classical economic lot-sizing problem with time-invariant cost parameters. We consider a general class of online heuristics that is often applied in a rolling-horizon environment. We develop a procedure to systematically construct worst-case instances for a fixed time horizon and use it to derive worst-case problem instances for an infinite time horizon. Our analysis shows that any online heuristic has a worst-case ratio of at least 2.

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