INVENTORY AND THE THEORY OF THE FIRM,

Abstract

A serious criticism of the inventory models presented in the literature is that they often seek to minimize inventory costs rather than to minimize total costs for a specified production level. This neglect is caused, in large measure, by a failure to consider inventories as factors of production, with substitution possibilities between other types of inputs. The paper incorporates these substitution possibilities into the analysis, and formulates an inventory model within the theory of the firm. (Author)

Document Details

Document Type
Technical Report
Publication Date
Feb 18, 1970
Accession Number
AD0702454

Entities

People

  • Marshall Rose

Organizations

  • Center for Naval Analyses

Tags

DTIC Thesaurus Topics

  • Inventory
  • Production

Readers

  • Life Cycle Cost Analysis
  • Logistics and Supply Chain Management.
  • Theoretical Analysis.