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Inventory Control and Price Theory
Abstract
In spite of the high level of interest in inventory control that has sprung up recently among statisticians, economists, and businessmen, very little has been written that indicates the fundamental connection between price theory and inventory control. Most of the inventory control systems now in operation assume a given price structure. The analysis is frequently restricted to cost minimization. Economic theorists, on the other hand,~have concerned themselves with profit maximization but have not ordinarily concerned themselves with the realistic details underlying the construction of their curves. Only in the event that other variables external to the cost minimization problem are assigned optimal values will the cost minimization problem be equivalent to profit maximization.
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Citations
Cited by
Supply chain risk and resilience: theory building through structured experiments and simulation
Macdonald, J. R., Zobel, C. W., Melnyk, S. A., & Griffis, S. E. (2018) · International Journal of Production Research · doi:10.1080/00207543.2017.1421787 · Cited by 214
Metadata
- Authors
- Whitin, T. M.
- Venue
- Management Science
- Published
- 1955-10
- Volume
- 2
- Issue
- 1
- Pages
- 61-68
- ISSN
- 0025-1909 (ISSN-L)
- 1526-5501
- OpenAlex
- W2078645665
- Cited by
- 736
- References
- 0
- FWCI
- 2.61
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Inventory Control and Price Theory. https://app.cochat.ai/papers/10.1287/mnsc.2.1.61
- The paper
- Whitin, T. M. (1955). Inventory Control and Price Theory. Management Science. https://doi.org/10.1287/mnsc.2.1.61
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.