Accession Number:

AD0606601

Title:

DYNAMIC PROGRAMMING APPROACH TO OPTIMAL INVENTORY PROCESSES WITH DELAY IN DELIVERY,

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CALIF

Personal Author(s):

Report Date:

1957-12-06

Pagination or Media Count:

12.0

Abstract:

The usual dynamic programming approach to inventory processes with delays in delivery leads to functions of many variables. This multi-dimensionality prevents the straightforward utilization of digital computers. Using a type of transformation previously applied in the study of engineering control processes, it is shown that a class of inventory processes with time lags can be treated in terms of sequences of functions of one variable, regardless of the length of the delay. Author

Subject Categories:

Distribution Statement:

APPROVED FOR PUBLIC RELEASE