The newsstand problem: A capacitated multiple-product single-period inventory problem

The newsstand problem: A capacitated multiple-product single-period inventory problem

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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: ,
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 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.

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