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Research Article

Mathematical Management of Simple Inventory System

S.M. Seeletse
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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


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