Strategies for a blind newsboy

Strategies for a blind newsboy

0.00 Avg rating0 Votes
Article ID: iaor200166
Country: United Kingdom
Volume: 27
Issue: 1
Start Page Number: 129
End Page Number: 134
Publication Date: Feb 1999
Journal: OMEGA
Authors:
Keywords: production: JIT
Abstract:

Three variations of the newsboy problem, the newsboy problem with fixed container size, the problem of the just-in-time newsboy and the newsboy problem with demand-dependent pricing are analyzed with respect to the value of information. This is determined by comparing the profit of a blind newsboy, who only knows the demand distribution, with the profit of a clear-sighted newsboy, who can accurately predict sales. It is shown that the disadvantage of the blind newsboy is diminished by just-in-time supplies or demand-dependent pricing.

Reviews

Required fields are marked *. Your email address will not be published.