Optimal Issuing Policies
- 1 July 1973
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science
- Vol. 19 (11) , 1292-1294
- https://doi.org/10.1287/mnsc.19.11.1292
Abstract
Consider a stockpile consisting of n items where the ith item has a rating ri, i = 1, …, n. An item with rating r, if kept in stockpile until time t and then released to the field, will have a field life of rd(t). Thus it is assumed that for any t, the field life for issuance at time t is proportional to the time 0 field life. Items are to be issued one by one from the stockpile to the field until the stockpile is depleted. The ith issued item is placed in the field immediately upon the death in the field of the (i − 1)st issued item. Conditions for LIFO and FIFO optimality are obtained.Keywords
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