Academic Journal
Multi-Item Production and Inventory Management Under Price Uncertainty
| Τίτλος: | Multi-Item Production and Inventory Management Under Price Uncertainty |
|---|---|
| Συγγραφείς: | Banerjee, Bani P., Sengupta, S. Sankar, Symonds, Gifford H. |
| Πηγή: | Research Reports from the Department of Operations |
| Στοιχεία εκδότη: | Scholarly Commons @ Case Western Reserve University |
| Έτος έκδοσης: | 2015 |
| Θεματικοί όροι: | Operations research, Inventory control--Mathematical models, Production planning--Mathematical models, Stochastic processes, Decision making--Mathematical models, Pricing--Mathematical models, Business mathematics, Business Administration, Management, and Operations |
| Περιγραφή: | A model is presented for the derivation and implementation of optimal linear decision rule for a firm producing and dealing in a number of interacting products, and possessing partial influence on their prices. The behavior of a multi-item production-inventory complex is represented as the dynamics of suitably defined state variables under the influence of decision rules that are stable and linear in the state variables, but otherwise unspecified. The dynamical equations are stochastic owing to the presence of stochastic processes in the forcing terms. The statistical properties of these processes, together with the decision rules, determine the statistics of the outcome or the criterion functional. The optimum inventory decision is then derived as the "best" linear transformation on the past of the state variables such that the mean value of the criterion functional is optimized subject to the system constraints. [Likely published between 1961-1966.] |
| Τύπος εγγράφου: | text |
| Περιγραφή αρχείου: | application/pdf |
| Γλώσσα: | unknown |
| Διαθεσιμότητα: | https://commons.case.edu/wsom-ops-reports/322 https://commons.case.edu/context/wsom-ops-reports/article/1321/viewcontent/.pdf |
| Rights: | This work is in the public domain and may be freely downloaded for personal or academic use |
| Αριθμός Καταχώρησης: | edsbas.B6B1CC96 |
| Βάση Δεδομένων: | BASE |
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