New results on the newsvendor model and the multi-period inventory model with backordering

Janakiraman, G and Park, S J and Seshadri, S and Wu, Q (2013) New results on the newsvendor model and the multi-period inventory model with backordering. Operations Research Letters, 41 (4). pp. 373-376.

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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. © 2013 Elsevier B.V. All rights reserved.

ISB Creators:
ISB CreatorsORCiD
Seshadri, SUNSPECIFIED
Item Type: Article
Uncontrolled Keywords: Dilation order; Limited demand information; Multi-period inventory model; Newsvendor model
Subjects: Operations Management
Depositing User: Users 13 not found.
Date Deposited: 16 Nov 2014 16:28
Last Modified: 17 Nov 2014 04:56
URI: http://eprints.exchange.isb.edu/id/eprint/292
Publisher URL: http://dx.doi.org/10.1016/j.orl.2013.04.008
Publisher OA policy: http://www.sherpa.ac.uk/romeo/issn/0167-6377/
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