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

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)

Document Details

Document Type
Technical Report
Publication Date
Dec 06, 1957
Accession Number
AD0606601

Entities

People

  • Richaahcchard Bellman

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Computer Programming
  • Computers
  • Computing Devices
  • Digital Computers
  • Dynamic Programming
  • Engineering
  • Interdisciplinary Science
  • Inventory
  • Mathematics
  • Sequences
  • Systems Science

Readers

  • Mathematical Modeling and Probability Theory.
  • Software Engineering
  • Theoretical Analysis.