An Analytic Solution of the Warehouse Problem
- 1 October 1957
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science
- Vol. 4 (1) , 99-104
- https://doi.org/10.1287/mnsc.4.1.99
Abstract
In a recent paper, [Bellman, Richard. 1956. On the theory of dynamic programming—a warehousing problem. Management Sci. 2 (3, April) 272.], Bellman uses dynamic programming to establish a computational algorithm for the solution of the “warehouse” problem. The present paper also employs the dynamic-programming approach and shows that the structure of the solution can be determined analytically, with numerical results easily obtained via recursive formulas.Keywords
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