On the Optimal Inventory Equation
- 1 October 1955
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science
- Vol. 2 (1) , 83-104
- https://doi.org/10.1287/mnsc.2.1.83
Abstract
The purpose of this paper is to discuss a number of functional equations which arise in the “optimal inventory” problem. This is a particular case of the general problem of ordering in the face of an uncertain future demand. Actually, an important aspect of the problem is that of determining a suitable criterion of cost, one which is both realistic and analytically malleable.Keywords
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