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Author Haji, Maryam ♦ Haji, Rasoul ♦ Darabi, Houshang
Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Newsboy Problem ♦ Stochastic Initial Inventory ♦ Price Discount ♦ Quantity Discount ♦ Initial Inventory ♦ Pervious Extension ♦ Order Quantity ♦ Practical Distribution ♦ Important Practical Extension ♦ Many Extension ♦ Optimal Value ♦ Total Profit ♦ Random Variable
Abstract Many extension of the newsboy problem have been solved in the literature. One of those extensions solves a newsboy problem with stochastic initial inventory, earlier extensions have focused on quantity discounts offered by suppliers. An important practical extension would address a combination of the two pervious extensions. In this paper we consider a newsboy problem in which the suppliers offer quantity discount and the initial inventory at the beginning of the period is a random variable. We obtain the optimal value of the order quantity which maximizes the total profit and then present the results for some practical distributions of both random variables, demand and initial inventory.
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Learning Resource Type Article