A Min-Max Solution of an Inventory Problem
ResearchPublished 1957
A study of the problem of purchasing a quantity of an item in anticipation of a future demand. It is assumed that only the mean and standard deviation of the demand distribution is known. From this deviation a stock level is determined which maximizes the minimum profit for all demand distributions. The stock level is then compared with the levels obtained by assuming several specific distributions.
Document Details
- Copyright: RAND Corporation
- Availability: Available
- Year: 1957
- Print Format: Paperback
- Paperback Pages: 16
- Paperback Price: $20.00
- Document Number: P-910
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Scarf, Herbert E., A Min-Max Solution of an Inventory Problem, RAND Corporation, P-910, 1957. As of September 20, 2024: https://www.rand.org/pubs/papers/P910.html
Scarf, Herbert E., A Min-Max Solution of an Inventory Problem. Santa Monica, CA: RAND Corporation, 1957. https://www.rand.org/pubs/papers/P910.html. Also available in print form.
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