A multi-product multi-constraint newsboy problem: Applications, formulation and solution

A multi-product multi-constraint newsboy problem: Applications, formulation and solution

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Article ID: iaor19951989
Country: United States
Volume: 13
Issue: 2
Start Page Number: 153
End Page Number: 162
Publication Date: Aug 1995
Journal: Journal of Operations Management
Authors: ,
Keywords: newsboy problem
Abstract:

Practically all of the many earlier papers on the newsboy problem consider a single newsboy product with no capacity constraint. This paper points out the real-world prevalence of the ‘multiple-product multiple-constraint newsboy problem’, i.e., the ‘newsstand problem’. The authors present a formulation and a solution procedure for this newsstand problem. The present solution procedure has been designed to efficiently handle the common situation where a large number of products are involved; this solution procedure is shown to be necessary for the practical solution of realistic newsstand problems.

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