Abstract
This paper deals with planning production of a single good over a prescribed finite interval of time. The costs considered within the problem are production and holding costs; holding costs are incurred for negative inventory (caused by backlogged sales) and positive inventory (caused by production in excess of demand). The demand for the product is treated as a stochastic process.
Original language | English |
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Pages (from-to) | 771-787 |
Number of pages | 17 |
Journal | Operations Research |
Volume | 22 |
Issue number | 4 |
DOIs | |
State | Published - 1974 |