Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1142350 | Operations Research Letters | 2013 | 4 Pages |
Abstract
We analyze the newsvendor model and the multi-period inventory model, and provide some new results. For the newsvendor model, the best case newsvendor cost over all demand distributions with a given demand mean and variance is zero. In addition, under symmetric demand distributions, the newsvendor’s costs remain the same when the holding and shortage costs are switched. For the multi-period inventory model with stochastic lead times, a dilation ordering of lead times implies an ordering of optimal costs.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Discrete Mathematics and Combinatorics
Authors
Ganesh Janakiraman, Seung Jae Park, Sridhar Seshadri, Qi Wu,