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- An Inventory Model for Corestock Veneer.
An Inventory Model for Corestock Veneer.
Thesis Abstract:
The study dealt with a form of inventory control that could be applicable to some products such as corestock vencer. Based on speculation, the inventory system was analyzed as regards its effects several problems of vencer production and sale in a hypothetical wood-processing company. Although the study was hypothetical, such a situation could occur in real world system dealing with correstock vencer or similar type of products.
Dynamic programming was applied to a particular problem and the results showed that this application was effective in selecting proper production schedule for the firms, deciding when to backlog the demand, and maximizing profit.
This kind of “inventory control” could be applied on condition that the demand is not diminished or there is no cheaper substitute product, and that it is acceptable to the social system.