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Unreliable newsboy problem with a forecast update
In this paper, we derive an optimal ordering policy for an unreliable newsboy who can place two sequential orders before the start of a single selling season by using a demand forecast update. Supply yield is modeled using a uniform distribution considering both the minimum order guarantee and the m...
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| Published in: | Operations research letters 2011-07, Vol.39 (4), p.278-282 |
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| Main Authors: | , , |
| Format: | Article |
| Language: | English |
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| cited_by | cdi_FETCH-LOGICAL-c390t-ae62c9a35c507a30982840af62d97be025ffa3a275c5697126820123c5adfa8f3 |
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| cites | cdi_FETCH-LOGICAL-c390t-ae62c9a35c507a30982840af62d97be025ffa3a275c5697126820123c5adfa8f3 |
| container_end_page | 282 |
| container_issue | 4 |
| container_start_page | 278 |
| container_title | Operations research letters |
| container_volume | 39 |
| creator | Tiwari, Divya Patil, Rahul Shah, Janat |
| description | In this paper, we derive an optimal ordering policy for an unreliable newsboy who can place two sequential orders before the start of a single selling season by using a demand forecast update. Supply yield is modeled using a uniform distribution considering both the minimum order guarantee and the maximum yield. Our results indicate that a firm should focus on increasing the minimum order guarantee from a first stage supplier to reduce its total supply chain cost. |
| doi_str_mv | 10.1016/j.orl.2011.04.001 |
| format | article |
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| fulltext | fulltext |
| identifier | ISSN: 0167-6377 |
| ispartof | Operations research letters, 2011-07, Vol.39 (4), p.278-282 |
| issn | 0167-6377 1872-7468 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_914636675 |
| source | Elsevier |
| subjects | Applied sciences Cost engineering Exact sciences and technology Forecast update Inventory control, production control. Distribution Inventory management Logistics Marketing Mathematical models Mathematical programming Newsboy problem Operational research and scientific management Operational research. Management science Operations research Optimization Policies Random yield Seasons Stochastic dynamic programming Suppliers |
| title | Unreliable newsboy problem with a forecast update |
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