An inventory model with substitution

An inventory model with substitution

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Article ID: iaor20043446
Country: China
Volume: 23
Issue: 6
Start Page Number: 63
End Page Number: 68
Publication Date: Jun 2003
Journal: Systems Engineering Theory & Practice
Authors: , ,
Keywords: programming: dynamic
Abstract:

In this paper we develop a general profit maximization model for single-period two-product substitution problem, and show that it is concave and sub-modular. Then we obtain the optimal condition for order quantity, which is similar to the solution of the newsboy model.

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