A Simple Style Goods Inventory Model

Philip H. Hartung
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Philip H. Hartung: Montgomery Ward & Company

Management Science, 1973, vol. 19, issue 12, 1452-1458

Abstract: A Style Goods Inventory Model is presented as a dynamic inventory problem with unknown demand. Assumptions are introduced which allow the model to be solved as a dynamic programming problem with one state variable instead of two. Application of the model is made through the development of a particular empirical demand estimating process. Further, the model is defined such that the results can be applied to a class of items with dissimilar costs and demand levels.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:19:y:1973:i:12:p:1452-1458

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