Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time.
Ningombam Sanjib MeiteiSnigdha BanerjeePublished in: RAIRO Oper. Res. (2013)
Keyphrases
- lead time
- single product
- holding cost
- multi echelon
- periodic review
- planning horizon
- single item
- replenishment policy
- service level
- inventory policy
- supply chain
- single period
- order quantity
- inventory systems
- revenue management
- demand distributions
- ordering cost
- stochastic lead times
- assembly systems
- setup cost
- total cost
- inventory control
- lost sales
- optimal policy
- stochastic demand
- base stock policy
- dynamic programming
- lot size
- finite horizon
- infinite horizon
- fixed cost
- lot sizing
- base stock policies
- probabilistic model
- optimal solution
- control policies
- inventory level
- expected profit
- long run
- random variables
- upper bound
- dual sourcing