Sequential Production Planning Over Time at Minimum Cost

S. M. Johnson
Additional contact information
S. M. Johnson: The RAND Corporation

Management Science, 1957, vol. 3, issue 4, 435-437

Abstract: Production of a given commodity is to be scheduled over time to meet known future requirements while minimizing total costs. The costs include both storage and production costs as functions of time. The unit production cost is an increasing function of the production rate. Previous solutions to this problem have involved complicated iterative procedures. A new approach brings out the basic principle involved and leads to a surprisingly simple solution. This coincides with a common-sense technique sometimes used in business.

Date: 1957
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://dx.doi.org/10.1287/mnsc.3.4.435 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:3:y:1957:i:4:p:435-437

Access Statistics for this article

More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().