An Analytic Solution of the Warehouse Problem

descriptionPublicationkeyboard_double_arrow_right Article 01 Oct 1957 English Publisher:Institute for Operations Research and the Management Sciences (INFORMS)Journal:Management Science, volume 4, pages 99-104 (issn: 0025-1909, eissn: 1526-5501,

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Authors: Stuart E. Dreyfus;

doi: 10.1287/mnsc.4.1.99

An Analytic Solution of the Warehouse Problem

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Abstract

In a recent paper, [Bellman, Richard. 1956. On the theory of dynamic programming—a warehousing problem. Management Sci. 2 (3, April) 272.], Bellman uses dynamic programming to establish a computational algorithm for the solution of the “warehouse” problem. The present paper also employs the dynamic-programming approach and shows that the structure of the solution can be determined analytically, with numerical results easily obtained via recursive formulas.

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Keywords

Management decision making, including multiple objectives

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