Article ID: | iaor1999555 |
Country: | Netherlands |
Volume: | 94 |
Issue: | 1 |
Start Page Number: | 29 |
End Page Number: | 42 |
Publication Date: | Oct 1996 |
Journal: | European Journal of Operational Research |
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 presents formulations and solution procedures for handling multiple newsboy-type products under two cases: (A) one resource-capacity constraint; and (B) multiple resource constraints. For case A, we present a necessary extension to the classical Hadley–Whitin result for handling general demand distributions. For case B we present a solution procedure that can efficiently handle the common situation where a very large number of products are involved.