<p style='text-indent:20px;'>A newsboy problem is a typical stochastic inventory management and has extensive applications in the fields of operational research, sciences marketing sciences. One challenges underlying such problems to handle uncertainty demands. In existing results, it often assume that demand distribution given facilitate solution problems. this paper, novel data-driven r...

among numerous np-hard problems, the traveling salesman problem (tsp) has been one of the most explored, yet unknown one. even a minor modification changes the problem’s status, calling for a different solution. the generalized traveling salesman problem (gtsp)expands the tsp to a much more complicated form, replacing single nodes with a group or cluster of nodes, where the objective is to fi...

Changes in production cost always lead to changes in wholesale and retail price. How to adjust the wholesale price, retail price and order quantity in order to derive an optimal strategy for the supplier and the retailer is one of the most perplexing problems. The purpose of this study is to develop a strategy to maximize the expected profit by simultaneously determining the adjustment ratio o...

This paper is a pedagogical approach for teaching the Newsboy inventory problem, in engineer and business school. In most cases, students study the value that maximizes the expected revenue. In some cases, they study the expected cost itself, but never the associated risk. This article studies the standard deviation of the expected cost for two classical models (including or not salvage revenue...

Recently, Lee and Hsu (2011) study the advertising effect on the distribution-free newsboy problem. In one of their results, they show that the optimal expenditure on advertising, the optimal order quantity and the optimal lower bound on the expected profit increase with the advertising effect parameters. Although this result holds in general, it requires additional assumptions. In this note we...

In this paper, we consider a serial two-echelon periodic review inventory system with two supply modes at the most upstream stock point. As control policy for this system, we propose a natural extension of the dual-index policy, which has three base-stock levels. We consider the minimization of long run average inventory holding, backlogging, and both per unit and fixed emergency ordering costs...