Author : Nou Vicoudh

Summary : The study deals with a form of inventory control that could be applicable for some products such as core-stock veneer. The inventory system, which is based on speculation, is analyzed as far as its effects on several problems on veneer production and sale in a hypothetical wood-processing company. While the study is hypothetical in nature, such a situation could occur in a real world system dealing with corestock veneer or similar type of products. Dynamic programming is applied to a particular problem and the results show that this application is effective in : (1) selecting proper production schedule for the firm; (2) deciding when to backlog the demand and maximizing profit.