Accession Number : AD0604560

Title :   ON THE OPTIMAL INVENTORY EQUATION,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Bellman,R. ; Glicksberg,I. ; Gross,O.

Report Date : 28 JUL 1955

Pagination or Media Count : 41

Abstract : A number of functional equations which arise in the optimal inventory problem, the general problem of ordering in the face of an uncertain future demand, are discussed. Complete solutions are obtained for the case of an arbitrary number of items and arbitrary distribution of demand when the cost functions are taken proportional to the quantity ordered. (Author)

Descriptors :   (*INVENTORY CONTROL, OPTIMIZATION), (*OPTIMIZATION, INVENTORY CONTROL), ECONOMICS, MATHEMATICAL MODELS, OPERATIONS RESEARCH, INVENTORY CONTROL, EQUATIONS, DYNAMIC PROGRAMMING

Distribution Statement : APPROVED FOR PUBLIC RELEASE