This is similar to the cutting stock problem, but with a slight difference. I want to find out what the optimal length of the stock is based on the sizes of the cuts.
Potential complications:
The Wikipedia article on the Cutting Stock Problem is way over my head. I suspect that understanding how to solve this problem might be critical to solving my own problem.
Some cut lengths are more common than others. Anything less than 2 feet is considered scrap, so we'd rather not make a cut that leaves a large piece of scrap. On the other hand, we don't want to hang on to numerous pieces of partial stock in the hopes that we might need one of them some day.