On the Optimal Inventory Equation

R. Bellman, I. Glicksberg and O. Gross
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R. Bellman: The Rand Corporation
I. Glicksberg: The Rand Corporation
O. Gross: The Rand Corporation

Management Science, 1955, vol. 2, issue 1, 83-104

Abstract: The purpose of this paper is to discuss a number of functional equations which arise in the "optimal inventory" problem. This is a particular case of the general problem of ordering in the face of an uncertain future demand. Actually, an important aspect of the problem is that of determining a suitable criterion of cost, one which is both realistic and analytically malleable.

Date: 1955
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