This paper presents the results of some digital computer simulation tests of a procedure for the economic planning of lot sizes, work force, and inventories. A dynamic, deterministic, linear programming model was used to obtain approximate solutions to the actual problem which is both dynamic...

A massive investment program is under way to meet the increased demand for chemical fertilizers in India. This paper reports on a preinvestment survey of that program. Such a survey cannot be viewed as a master plan for the development of the entire chemical fertilizers industry. Rather, it is...

Modigliani and Hohn [Modigliani, F., F. E. Hohn. 1955. Production planning over time. Econometrica 23 (1, January) 46-66.] have formulated a production planning and inventory control model that appears relevant to an important class of non-stochastic decision-making problems. It is the purpose...

This paper studies the planning problem faced by a machine shop required to produce many different items so as to meet a rigid delivery schedule, remain within capacity limitations, and at the same time minimize the use of premium-cost overtime labor. It differs from alternative approaches to...

Using an illustration drawn from the area of inventory control, this paper demonstrates how a typical sequential probabilistic model may be formulated in terms of (a) an initial decision rule and (b) a Markov process, and then optimized by means of linear programming. This linear programming...

For a self-financing business enterprise (or for an underdeveloped economy subject to constraints on the availability of foreign investment funds), three theorems are presented. Each result is based upon the assumption that the firm's investment opportunities follow constant returns-to-scale,...

An exploration of the margin of error entailed in using a "one-point move" algorithm for solving a class of fixed-charge problems. The algorithm is of interest both from the viewpoint of numerical analysis and also from the analogy with market mechanisms. Despite the presence of...