IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v12y1966i6pb236-b244.html
   My bibliography  Save this article

An Application of Heuristic Problem Solving to Accounts Receivable Management

Author

Listed:
  • Ferdinand K. Levy

    (Rice University, Houston, Texas)

Abstract

The paper describes a very apparent application of heuristic problem solving to accounts receivable management, namely in the location of lock-boxes. Lock-boxes are post office boxes selected in a company's distribution area in order to minimize the time necessary for the company to collect and to have available the funds remitted by its customers in payment of their obligations. The paper starts with a statement of and solution to the problem of measuring a given set of locations. Next the difficulties with the formulation are pointed out and a heuristic program to reach a satisfactory solution is described. The program is written in FORTRAN IV and is currently being tested.

Suggested Citation

  • Ferdinand K. Levy, 1966. "An Application of Heuristic Problem Solving to Accounts Receivable Management," Management Science, INFORMS, vol. 12(6), pages 236-244, February.
    • Handle: RePEc:inm:ormnsc:v:12:y:1966:i:6:p:b236-b244
    DOI: 10.1287/mnsc.12.6.B236
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.12.6.B236
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.12.6.B236?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Abinoam Perry, 1974. "An Optimum Seeking Algorithm for Locating Lock Boxes," Discussion Papers 99, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:12:y:1966:i:6:p:b236-b244. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.