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Some Analysis of Purchasing Policy

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  • William T. Morris

    (Department of Industrial Engineering, The Ohio State University)

Abstract

Several well known purchasing policies or "buying strategies" are studied by-means of simple mathematical models. The basic properties of these policies are demonstrated under the assumption that future market prices are viewed as random variables. An optimal policy for forward buying is obtained, and strategies for dollar averaging and speculation are investigated.

Suggested Citation

  • William T. Morris, 1959. "Some Analysis of Purchasing Policy," Management Science, INFORMS, vol. 5(4), pages 443-452, July.
    • Handle: RePEc:inm:ormnsc:v:5:y:1959:i:4:p:443-452
    DOI: 10.1287/mnsc.5.4.443
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    Cited by:

    1. Inderfurth, Karl & Kelle, Peter, 2011. "Capacity reservation under spot market price uncertainty," International Journal of Production Economics, Elsevier, vol. 133(1), pages 272-279, September.

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