PRODUCTION PLANNING FOR A STOCHASTIC DEMAND PROCESS.

Nicholas J. Gonedes, Zvi Lieber

Research output: Contribution to journalArticlepeer-review

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 languageEnglish
Pages (from-to)771-787
Number of pages17
JournalOperations Research
Volume22
Issue number4
DOIs
StatePublished - 1974

Fingerprint

Dive into the research topics of 'PRODUCTION PLANNING FOR A STOCHASTIC DEMAND PROCESS.'. Together they form a unique fingerprint.

Cite this