Publication:
Newsvendor models with dependent random supply and demand

Placeholder

School / College / Institute

Organizational Unit

Program

KU Authors

Co-Authors

N/A

Publication Date

Language

Embargo Status

Journal Title

Journal ISSN

Volume Title

Alternative Title

Abstract

The newsvendor model is perhaps the most widely analyzed model in inventory management. In this single-period model, the only source of randomness is the demand during the period and one tries to determine the optimal order quantity in view of various cost factors. We consider an extention where supply is also random so that the quantity ordered is not necessarily received in full at the beginning of the period. Such models have been well-received in the literature with the assumption of independence between demand and supply. In this setting, we suppose that the random demand and supply are not necessarily independent. We focus on the resulting optimization problem and provide interesting characterizations on the optimal order quantity.

Source

Publisher

Springer Heidelberg

Subject

Operations research, Management science, Mathematics, Applied mathematics

Citation

Has Part

Source

Optimization Letters

Book Series Title

Edition

DOI

10.1007/s11590-013-0616-7

item.page.datauri

Link

Rights

Copyrights Note

Endorsement

Review

Supplemented By

Referenced By

0

Views

0

Downloads

View PlumX Details