THE USING OF DYNAMIC PROGRAMMING IN PURCHASING BECO ALLOYS

1 LAMPA Martin
Co-authors:
1 SIKOROVÁ Andrea 1 SAMOLEJOVÁ Andrea
Institution:
1 VSB - Technical University of Ostrava, Ostrava, Czech Republic, EU, martin.lampa@vsb.cz, andrea.sikorova@vsb.cz, andrea.samolejova@vsb.cz
Conference:
28th International Conference on Metallurgy and Materials, Hotel Voronez I, Brno, Czech Republic, EU, May 22nd - 24th 2019
Proceedings:
Proceedings 28th International Conference on Metallurgy and Materials
Pages:
1955-1959
ISBN:
978-80-87294-92-5
ISSN:
2694-9296
Published:
4th November 2019
Proceedings of the conference were published in Web of Science and Scopus.
Metrics:
74 views / 25 downloads
Abstract

In his work, a manager will come across situations, which will require him to make easy or complicated decisions. The company management often has to take into account the sequence of decisions, of which every decision affects the following one. The tool used to find solutions to the consequential types of decision problems is called dynamic programming.A key part of the logistics process is purchasing the necessary raw materials for production for the best possible price.This article deals deals with the subject of optimalization of purchasing BECO alloys (an alloy of copper and beryllium) in order to achieve the highest possible conservation of financial resources, that‘s why the timing of purchase is a deciding factor in terms of the manager‘s responsibilities.

Keywords: optimization, management, dynamic programming problem
Scroll to Top