A two-item newsboy problem with substitutability

被引：56

作者：

Khouja, M

Mehrez, A

Rabinowitz, G

机构：

[1] Department of MIS/M, Belk Coll. of Bus. Administration, Univ. of North Carolina at Charlotte, Charlotte

[2] Dept. of Indust. Eng. and Management, Ben-Gurion University of the Negev, Beer Sheva

来源：

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS | 1996年 / 44卷 / 03期

关键词：

single-period problem; substitutability; Monte Carlo simulation;

D O I：

10.1016/0925-5273(96)80002-V

中图分类号：

T [工业技术];

学科分类号：

08 ;

摘要：

Previous research on the newsboy problem is based on the assumption that in case of a shortage, unsatisfied demand is lost. Such an assumption is inappropriate for items that have a close substitute. In this paper, we formulate a two-item newsboy problem with substitutability (TINPS). Upper and lower bounds on the optimal order quantities of the two items are derived. Since analytical solutions to the problem are difficult to obtain, a Monte Carlo simulation is used to identify the optimal solution to the TINPS. Order quantities identified by the simulation provide higher expected profit than would have been obtainable without considering substitutability.

引用

页码：267 / 275

页数：9

共 20 条

[1] OPTIMALITY CRITERIA AND RISK IN INVENTORY MODELS - THE CASE OF THE NEWSBOY PROBLEM [J].