On the computational solution of dynamic-programming processes--IX: a multistage logistic-procurement model.
Purchase Print Copy
|Add to Cart||Paperback8 pages||$20.00||$16.00 20% Web Discount|
An application of dynamic programming to multistage logistic problems. The optimal procurement of a replacement part, assuming stochastic demand, is analyzed to determine an initial-order quantity and a replacement schedule that minimize expected cost. Cost factors include purchase cost, storage cost, and outage penalty. 9 pp.
This report is part of the RAND Corporation Research memorandum series. The Research Memorandum was a product of the RAND Corporation from 1948 to 1973 that represented working papers meant to report current results of RAND research to appropriate audiences.
This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.
The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.