Optimal inventory policy

@article{Arrow1951OptimalIP,
  title={Optimal inventory policy},
  author={K. Arrow and T. Harris and J. Marschak},
  journal={Econometrica},
  year={1951},
  volume={19},
  pages={133}
}
  • K. Arrow, T. Harris, J. Marschak
  • Published 1951
  • Economics
  • Econometrica
  • 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… CONTINUE READING

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