Record Details

Unreliable newsboy problem with a forecast update

DSpace at IIT Bombay

View Archive Info
 
 
Field Value
 
Title Unreliable newsboy problem with a forecast update
 
Creator TIWARI, D
PATIL, R
SHAH, J
 
Subject SUPPLIER DIVERSIFICATION
DEMAND
UNCERTAINTY
DECISIONS
YIELD
COST
Newsboy problem
Forecast update
Random yield
Inventory management
Stochastic dynamic programming
 
Description In this paper, we derive an optimal ordering policy for an unreliable newsboy who can place two sequential orders before the start of a single selling season by using a demand forecast update. Supply yield is modeled using a uniform distribution considering both the minimum order guarantee and the maximum yield. Our results indicate that a firm should focus on increasing the minimum order guarantee from a first stage supplier to reduce its total supply chain cost. (C) 2011 Elsevier B.V. All rights reserved.
 
Publisher ELSEVIER SCIENCE BV
 
Date 2012-06-26T07:47:41Z
2012-06-26T07:47:41Z
2011
 
Type Article
 
Identifier OPERATIONS RESEARCH LETTERS,39(4)278-282
0167-6377
http://dx.doi.org/10.1016/j.orl.2011.04.001
http://dspace.library.iitb.ac.in/jspui/handle/100/14174
 
Language English