Optimal Policies for the Inventory Problem with Negotiable Leadtime
In this paper we study the dynamic inventory problem in which amounts of stock ordered at unit prices c k and c k+1 (c k > c k+1 ) are delivered, respectively, k and k + 1 periods later. It is demonstrated that under suitable cost conditions, the optimal policies are similar to those of the dynamic inventory problem with a delivery lag of k + 1 periods, except for an additional constant stock level up to which it is desired to order at unit price c K . If we assume that ordering decisions are made in every other period, it is demonstrated that analogous results are obtainable for the case in which amounts of stock ordered at unit prices c k , c k+1 , and c k+2 (c k > c k+1 > c k+2 ) are delivered, respectively, k, k + 1, and k + 2 periods later.
Volume (Year): 10 (1964)
Issue (Month): 4 (July)
|Contact details of provider:|| Postal: 7240 Parkway Drive, Suite 300, Hanover, MD 21076 USA|
Web page: http://www.informs.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:10:y:1964:i:4:p:690-708. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mirko Janc)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.