Technical Note—Optimization of the Capacity in a Storage System

S. G. Loo and A. Ghosal
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S. G. Loo: Monash University, Clayton, Victoria, Australia
A. Ghosal: Monash University, Clayton, Victoria, Australia

Operations Research, 1971, vol. 19, issue 2, 544-548

Abstract: This paper presents the problem of determining the optimal capacity of a storage system with respect to some specified criteria. It assumes that the storage system is subject to an input X and a release Y , at least one of which is a random variable following a known distribution function, so that the storage function Z is a stochastic process. The optimal capacity over a time horizon (0, T ) is determined by maximizing the expected profit.

Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:19:y:1971:i:2:p:544-548

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