Satisficing Newsvendor Problem with the Optimism Coefficient

The Censored Newsvendor Problem with Newsvendor Demand Distributions

We study the dynamic newsvendor problem with censored demand for both perishable and storable inventory models. We focus on the cases when demand is represented by a member of the newsvendor family of distributions. We show that the Weibull density is the only member of newsvendor distributions for which the optimal solution can be expressed in scalable form. Consequently, scalability yields su...

Newsvendors Tackle the Newsvendor Problem

In 1998, the retail sales and marketing division of Time Inc., the largest publisher of consumer magazines in the US, reviewed its newsstand distribution principles and procedures for its magazines. This review affected the three major distribution decisions: the evaluation of each magazine’s national print order, the wholesaler allotment procedure, and the store distribution process. For this ...

A Note on Newsvendor Problem with Pricing

The main purpose of the paper is to present a specific case of dynamic pricing for the newsvendor problem. Firstly, the short overview of a newsvendor problem is given together with references to the selected literature and remarks to its applicability. Then, the dynamic pricing principles are discussed together with references to decision dependent randomness case in stochastic programming. Th...

A Concurrent Newsvendor Problem with Rationing

The model proposed in this paper aims at identifying the best allocation of a limited quantity of product to a group of retailers supplied by a unique supplier, considering the variability of the demands faced on the market. The proposed approach aims at reducing the problem of demand inflation, inherent to many rationing policies, by considering the mean and the standard deviation of the deman...

Pricing and the Newsvendor Problem: A Review with Extensions