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Case Studies | Mathematics | Indonesia | Volume 4 Issue 9, September 2015
Stochastic Model for Newsvendor Problem
Liza Setyaning Pertiwi [11] | Jhonny Marbun | Christian Sinaga
Abstract: In this paper newsvendor model extensions are developed. These two extensions allow modelling of the situations where there are certain percentage of customers who are willing to wait for the next regular order. The first model assumes that it is possible to identify customers who are willing to wait for the next regular order at the beginning of planning period, while the second model assumes back order option at time when stock out occurs.
Keywords: Inventory, Newsvendor Model, Stochastic Model
Edition: Volume 4 Issue 9, September 2015,
Pages: 1322 - 1324
Similar Articles with Keyword 'Inventory'
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Research Paper, Mathematics, India, Volume 11 Issue 4, April 2022
Pages: 926 - 929A Deterministic Inventory Model with Biquadratic Demand, Static Rate of Deterioration and Linear Carrying Cost
Pooja Soni [9] | Rajender Kumar [4]
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Analysis Study Research Paper, Mathematics, India, Volume 11 Issue 11, November 2022
Pages: 1117 - 1123A Deterministic Inventory Model for Non-Instantaneous Deteriorating Items with Allowed Backorders and Quadratic Time Varying Holding Cost
Teekam Chand Meena [2] | Anil Kumar Sharma [5]