Accession Number : AD0691896

Title :   OPTIMAL MULTIPRODUCT INVENTORY POLICY: SUBSTITUTE PRODUCTS,

Corporate Author : COLUMBIA UNIV NEW YORK

Personal Author(s) : Ignall, Edward ; Veinott, Arthur F., Jr

Report Date : 1968

Pagination or Media Count : 38

Abstract : The document is concerned with the ordering decisions in a multiproduct inventory system in which the quantities demanded are random variables and the ordering cost is proportional to the quantity ordered. The decisions are made periodically and the objective is an ordering policy which minimizes the expected costs of ordering, holding, and shortage over a finite or infinite time span. (Author)

Descriptors :   *DECISION MAKING), (*INVENTORY CONTROL, MATHEMATICAL MODELS, COST EFFECTIVENESS, MANAGEMENT ENGINEERING, TIME, INVENTORY CONTROL, SUBSTITUTES, STORAGE, OPTIMIZATION.

Subject Categories : Logistics, Military Facilities and Supplies

Distribution Statement : APPROVED FOR PUBLIC RELEASE