DYNAMIC PROGRAMMING APPROACH TO OPTIMAL INVENTORY PROCESSES WITH DELAY IN DELIVERY,
R. Bellman · Defense Technical Information Center (DTIC) · 1957
The usual dynamic programming approach to inventory processes with delays in delivery leads to functions of many variables. This multi-dimensionality prevents the straightforward utilization of digital computers. Using a type of transformation previously applied in the study of engineering control processes, it is shown that a class of inventory processes with time lags can be treated in terms of sequences of functions of one variable, regardless of the length of the delay. (Author)