A Hierarchy of Deterministic Procurement—Inventory Systems

W. J. Fabrycky and Jerry Banks
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W. J. Fabrycky: Virginia Polytechnic Institute, Blacksburg, Virginia
Jerry Banks: Georgia Institute of Technology, Atlanta, Georgia

Operations Research, 1966, vol. 14, issue 5, 888-901

Abstract: The research results reported in this paper present a higher level generalization about deterministic procurement-inventory systems embracing multi-item and multisource characteristics. Lower ordered deterministic systems embracing single-item or single-source characteristics are also presented. Dynamic programming is used to find the optimal procurement and inventory policy for each system in the hierarchy.

Date: 1966
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:14:y:1966:i:5:p:888-901

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