Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition (Classic Reprint) - Softcover

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Excerpt from Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition

The make-to-order versus make-to-inventory question is a fundamental one in organizing and controlling production, but the one that has been subject to relatively little formal modeling in either economics or operations management literatures. One exception is the recent paper by Milgrom and Roberts (1987) that uses a newsboy-type model to formalize the idea that inventories and information about demand are substitutes for one another in production. Their results suggest that firms should employ only one of the two strategies: firms either produce for inventory or produce to order, but not the both.

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