Unreliable newsboy problem with a forecast update
DSpace at IIT Bombay
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Title |
Unreliable newsboy problem with a forecast update
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Creator |
TIWARI, D
PATIL, R SHAH, J |
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Subject |
SUPPLIER DIVERSIFICATION
DEMAND UNCERTAINTY DECISIONS YIELD COST Newsboy problem Forecast update Random yield Inventory management Stochastic dynamic programming |
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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.
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Publisher |
ELSEVIER SCIENCE BV
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Date |
2012-06-26T07:47:41Z
2012-06-26T07:47:41Z 2011 |
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Type |
Article
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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 |
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Language |
English
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