# Optimal Inventory Policy.

@article{Arrow1951OptimalIP, title={Optimal Inventory Policy.}, author={Kenneth J. Arrow and Theodore Edward Harris and Jacob Marschak}, journal={Econometrica}, year={1951}, volume={19}, pages={133} }

WE ipropose to outline a method for deriving optimal rules of inventory policy for finished goods. The problem of inventories exists not only for business enterprises but also for nonprofit agencies such as governmental establishments and their various branches. Moreover, the concept of inventories can be generalized so as to include not only goods but also disposable reserves of manpower as well as various stand-by devices. Also, while inventories of finished goods present the simplest problem… Expand

#### 832 Citations

An Inventory Policy for a Case of Lagged Delivery

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In this paper we study the question which inventory policy is optimal in the presence of long delivery lags under otherwise simple conditions. The data on which the solution depends are the average… Expand

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This paper gives a unified approach to a set of inventory problems subsumed under the classical inventory problem proposed by Arrow, Harris, and Marschak. This set includes those problems with… Expand

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