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.
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