The Computer Applied to Optimization of Price Considerations and Cost Forecasting in the Food Processing Industry.
Abstract
The management of a large-scale feeding facility involves many decisions which depend on the ability to forecast future food prices. Food ordering policies, contract period lengths, and future budget allocations are just a few of the decisions which are based on some knowledge of these food price trends. The ability to identify these future price trends can be an important asset to the facility manager. This study has developed a B5500 FORTRAN computer program which enhances the manager's planning in three ways: It accurately forecasts food costs; it uses these forecasts to determine the costs of future menus; and it uses a randomly generated menu schedule to provide an estimate of future operating expenses. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- May 01, 1972
- Accession Number
- AD0750117
Entities
People
- Arthur R. Geldbach
- Gregg A. Smith
Organizations
- United States Air Force Academy