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Research Article
 

Mathematical Management of Simple Inventory System



S.M. Seeletse
 
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ABSTRACT

The article discusses optimal inventory policy in a simple business organization that has a known or predictable factors. Optimal inventory policy implies cost saving in inventrory control, and achievement of maximum profits or/and to minimum costs. A mathematical model is used for this purpose and a case study adjusts mathematics (maths) results practically of a business situation. Theoretical optimization (maths optimization) and practical optimization (adjustment of maths results) are compared.

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  How to cite this article:

S.M. Seeletse , 2001. Mathematical Management of Simple Inventory System. Journal of Applied Sciences, 1: 260-262.

DOI: 10.3923/jas.2001.260.262

URL: https://scialert.net/abstract/?doi=jas.2001.260.262

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