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: 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)

Dynamic programming approach to optimal inventory processes with delay in delivery