The Newsvendor Problem

Evan L. Porteus

Chapter 7 in Building Intuition, 2008, pp 115-134 from Springer

Abstract: The newsvendor problem has numerous applications for decision making in manufacturing and service industries as well as decision making by individuals. It occurs whenever the amount needed of a given resource is random, a decision must be made regarding the amount of the resource to have available prior to finding out how much is needed, and the economic consequences of having “too much” and “too little” are known.

Keywords: Stock Level; Optimal Order Quantity; Demand Distribution; Demand Quantity; Newsvendor Problem (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-0-387-73699-0_7

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