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: | Lau Hon-Shiang, Lau Amy Hing-Ling |
Keywords: | newsboy problem |
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.