A risk-averse two-stage stochastic programming model for a joint multi-item capacitated line balancing and lot-sizing problem

•A joint production planning problem under demand uncertainty is proposed.•An assembly line balancing problem and a capacitated lot-sizing problem are connected.•A two-stage risk-averse stochastic program is utilized.•Efficient solution procedures are developed to improve the mathematical model.•A case study of COVID-19 is performed and some insights are provided.