This paper develops an extended newsboy model and presents a formula- tion for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be u...This paper develops an extended newsboy model and presents a formula- tion for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solu-tion. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.展开更多
In the classical Newsboy problem, we provide a new proof for the tight range of optimal order quantities for the newsboy problem when only the mean and standard deviation of demand are available. The new proof is only...In the classical Newsboy problem, we provide a new proof for the tight range of optimal order quantities for the newsboy problem when only the mean and standard deviation of demand are available. The new proof is only based on the definition of the optimal solution therefore it is the most straightforward method. It is also shown that the classical Scarf’s rule is the mid-point of the range of optimal order quantities. This provides an additional understanding of Scarf’s order rule as a distribution free decision.展开更多
This paper investigates the ordering policy for the newsvendor problem with customer balking and penalties for balking and stockout. Our analysis is based on the assumption that only the mean and the variance of the d...This paper investigates the ordering policy for the newsvendor problem with customer balking and penalties for balking and stockout. Our analysis is based on the assumption that only the mean and the variance of the demand distribution are known. In contrast to the existing research, we provide a new tradeoff tool as a replacement of the traditional one to weigh the holding cost and the goodwill cost segment： the balking penalty cost and the stockout penalty cost. Specifically, in addition to the stockout penalty, we also introduce the balking penalty, provide a new proof of the optimality of robust ordering policy to guarantee that the lower bound of expected profit obtained by us is tight, and get an robust optimal order quantity which is an exact solution but not an approximate one as before. Numerical experiments are conducted to illustrate the effect of penalties for balking and stockout.展开更多
文摘This paper develops an extended newsboy model and presents a formula- tion for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solu-tion. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.
文摘In the classical Newsboy problem, we provide a new proof for the tight range of optimal order quantities for the newsboy problem when only the mean and standard deviation of demand are available. The new proof is only based on the definition of the optimal solution therefore it is the most straightforward method. It is also shown that the classical Scarf’s rule is the mid-point of the range of optimal order quantities. This provides an additional understanding of Scarf’s order rule as a distribution free decision.
文摘This paper investigates the ordering policy for the newsvendor problem with customer balking and penalties for balking and stockout. Our analysis is based on the assumption that only the mean and the variance of the demand distribution are known. In contrast to the existing research, we provide a new tradeoff tool as a replacement of the traditional one to weigh the holding cost and the goodwill cost segment： the balking penalty cost and the stockout penalty cost. Specifically, in addition to the stockout penalty, we also introduce the balking penalty, provide a new proof of the optimality of robust ordering policy to guarantee that the lower bound of expected profit obtained by us is tight, and get an robust optimal order quantity which is an exact solution but not an approximate one as before. Numerical experiments are conducted to illustrate the effect of penalties for balking and stockout.
