A semi-analytical solution for a newsboy problem with mid-period replenishment

H-S Lau

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Supply Chain and Inventory Management Management and Optimization Techniques Sustainable Supply Chain Management

Abstract

This paper is an exploratory study of a very common variation of the classical newsboy problem: in addition to the supply at the beginning of the sales period, an additional replenishment opportunity exists sometime during the sales period. A basic model for the problem is presented and a semi-analytical solution procedure is developed. Numerical solutions obtained reveal certain interesting properties of the model. The paper shows that the replenishment extension makes the newsboy problem much more challenging managerially and also that it can be practically solved with significant profit implications.

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References

1993The Distribution Free Newsboy Problem: Review and Extensions 1979Note—Effects of Centralization on Expected Costs in a Multi-Location Newsboy Problem 1980The Newsboy Problem under Alternative Optimization Objectives 1988The Newsboy Problem With Price-Dependent Demand Distribution 1991On the Effect of Centralization on Expected Costs in a Multi-Location Newsboy Problem 1992Inventory Control with an Exponential Utility Criterion 1995The newsboy problem under progressive multiple discounts 1987Optimality Criteria and Risk in Inventory Models: The Case of the Newsboy Problem

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