Academic literature on the topic 'Newsvendor formula'

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Journal articles on the topic "Newsvendor formula"

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Zhang, Wensi, Jinlin Li, Ran Zhang, and Yahong Chen. "Impact of Emergency Order in Price-Dependent Newsvendor Problems." Asia-Pacific Journal of Operational Research 34, no. 02 (2017): 1750001. http://dx.doi.org/10.1142/s0217595917500014.

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This paper investigates the impact of emergency order in a price-dependent newsvendor setting. To this end, we compare two ways handling the excess demand: the excess demand is lost and a penalty cost is incurred, or the excess demand can be satisfied by an emergency order. Which way is better depends on the emergency purchase cost [Formula: see text] in emergency-order way and the price [Formula: see text] plus penalty cost [Formula: see text] in lost-sales way. For a risk-neutral newsvendor, our results indicate that, when [Formula: see text] is not larger than [Formula: see text], the emerg
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Zhang, Weiwei, Zhongfei Li, Ke Fu, and Fan Wang. "Effect of the Return Policy in a Continuous-Time Newsvendor Problem." Asia-Pacific Journal of Operational Research 34, no. 06 (2017): 1750031. http://dx.doi.org/10.1142/s0217595917500312.

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This paper studies the stochastic differential Stackelberg game in a continuous-time newsvendor problem with a return policy, in which one supplier sells products to one retailer and the two parties make the decisions sequentially to maximize their own expected profits. When the demand process is a general jump-diffusion process, we provide a general formula for the equilibrium if it exists. When the demand rate is an Ornstein–Uhlenbeck (O–U) process, we prove the existence and uniqueness of the equilibrium and find an explicit expression for the equilibrium. Computational results show that th
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Han, Qiaoming, Donglei Du, and Luis F. Zuluaga. "Technical Note—A Risk- and Ambiguity-Averse Extension of the Max-Min Newsvendor Order Formula." Operations Research 62, no. 3 (2014): 535–42. http://dx.doi.org/10.1287/opre.2014.1262.

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Sakoda, Gen, Hideki Takayasu, and Misako Takayasu. "Data Science Solutions for Retail Strategy to Reduce Waste Keeping High Profit." Sustainability 11, no. 13 (2019): 3589. http://dx.doi.org/10.3390/su11133589.

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Waste reduction in retail is a fundamental problem for sustainability. Among waste reduction approaches such as recycling and donation, stock management based on demand estimation which leads to mitigate waste generation and maintain a high profit is expected to play an important role. However, demand estimation is generally difficult because fluctuations in sales are quite volatile, and stock-out leads to incomplete demand observation. Here, we propose data science solutions to estimate non-stationary demand with censored sales data including stock-outs and realize scientific stock management
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Avinadav, Tal. "Stochastic Periodic-Review Models with Duration- and Quantity-Dependent Inventory Costs: Properties and Approximations." Asia-Pacific Journal of Operational Research 33, no. 04 (2016): 1650030. http://dx.doi.org/10.1142/s0217595916500305.

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In this paper, we formulate a stochastic periodic-review inventory model with lead-time that considers both duration- and quantity-dependent inventory costs, and show that the optimality equation has the same format as the standard newsvendor problem with a modified demand distribution. We suggest (i) an approximation of the optimal order-up-to level, based on discretization of the inventory cost accounting, and (ii) two heuristic formulas, based on the two-moment normal approximation of the modified demand distribution, and on an approximated deterministic model. We evaluate the performances
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Tang, Yuewu, Yang Song, Chang Xu, and Tijun Fan. "Optimal pricing and ordering policies with different patience levels of consumers." Industrial Management & Data Systems ahead-of-print, ahead-of-print (2021). http://dx.doi.org/10.1108/imds-08-2020-0491.

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PurposeUsing information systems via data mining and cluster analysis technologies, consumers' strategic behaviour can be measured, and their patience levels can be accurately described. This paper investigates the retailer's pricing and ordering policies when facing strategic consumers with different levels of patience and discusses the impacts of consumers' patience levels and proportions on retailers' maximum expected profits.Design/methodology/approachBy cluster analysing transaction data on the number of websites visited, browsing time and purchase decision time, consumers' patience level
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Dissertations / Theses on the topic "Newsvendor formula"

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Vinberg, Karl, and Lukas Klevtun. "Etablering av strategier och rutiner för seriestorlekar : En fallstudie på Företag X." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-104999.

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Purpose: The purpose of the study is to identify, design and apply a method for operational production planning. The purpose of the method is that it takes into account the respective demand patterns of the articles, which determines the choice of calculation model and that the method also takes into account the production capacity limitation set. The result can be applied as a basis for decision-making for small and medium-sized manufacturing companies that are facing an expansion. Objective: The following research question was the main objective of this study.How would an appropriate operati
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