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    The problem of scheduling sales of New Zealand butter on the United Kingdom market

    Townsley, Robert
    Abstract
    A major problem facing the authorities responsible for marketing New Zealand farm products in Great Britain, is the programming of monthly arrivals and sales in such a way that maximum revenue is earned over the course of a year. In this paper the author considers how the solution to this problem may be obtained with the technique known as Dynamic Programming, and using as his example the scheduling of butter sales to the United Kingdom in 1958/59. The bulletin is mainly expository - concerned with the description of the technique. Butter was chosen as the example largely because its sale is under central control and because the United Kingdom quota arrangements greatly facilitated the analysis. Under the conditions assumed, the author shows that an optimum sales schedule could have earned in 1958/59, £2 million more in sales revenue.... [Show full abstract]
    Keywords
    butter; market analysis; dynamic programming
    Fields of Research
    140201 Agricultural Economics; 140303 Economic Models and Forecasting
    Date
    1965
    Type
    Monograph
    Collections
    • AERU Research Report series [353]
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