The distribution free newsboy problem: Review and extensions

The distribution free newsboy problem: Review and extensions

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Article ID: iaor1994455
Country: United Kingdom
Volume: 44
Issue: 8
Start Page Number: 825
End Page Number: 834
Publication Date: Aug 1993
Journal: Journal of the Operational Research Society
Authors: ,
Keywords: newsboy problem
Abstract:

The authors present here a new, very compact, proof of the optimality of Scarf’s ordering rule for the newsboy problem where only the mean and the variance of the demand are known. They then extend the analysis to the recourse case, where there is a second purchasing opportunity; to the fixed ordering cost case, where a fixed cost is charged for placing an order; to the case of random yields; and to the multi-item case, where multiple items compete for a scarce resource.

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