Functions of stocks and causes of waiting time

Abstract

In the first part of this work we examined how production and consumption could be characterized. Naturally, in practice, all kinds of combinations of a particular production process occur with a particular consumption pattern. From consideration of the various cases which arise a picture can be built up of the reasons which respectively cause waiting times for orders, and the under-employment of production machinery; at the same time it becomes evident how stock of products can be utilized.