Optimal control in deterministic inventory models
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Authors
McMasters, Alan W.
Subjects
Advisors
Date of Issue
1970-03-23
Date
Publisher
Monterey, California. Naval Postgraduate School
Language
en_US
Abstract
The use of Pontryagin's Maximum Principle in analyses of deterministic inventory models requires less restrictive assumptions about the nature of order policies than can be allowed when only the differential calculus is used. Two analyses are presented to illustrate this fact. The first involves a periodic review model with no shortages allowed. The production and holding cost functions were kept as general as possible. The second analysis involves a periodic review model with shortages allowed and linear production and inventory costs. As would be expected, the optimal order policies obtained are more general than those obtained in the past. (Author)
Type
Technical Report
Description
Series/Report No
Department
Identifiers
NPS Report Number
NPS-55MG0031A
Sponsors
NAVSUP Project
Work Request No. 9-5033
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Citation
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Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.