The Multi-product Newsvendor Problem: Review, Extensions, and Directions for Future Research

Nazli Turken (), Yinliang Tan (), Asoo J. Vakharia (), Lan Wang (), Ruoxuan Wang () and Arda Yenipazarli ()
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Nazli Turken: University of Florida
Yinliang Tan: University of Florida
Asoo J. Vakharia: University of Florida
Lan Wang: University of Florida
Ruoxuan Wang: University of Florida
Arda Yenipazarli: University of Florida

Chapter Chapter 1 in Handbook of Newsvendor Problems, 2012, pp 3-39 from Springer

Abstract: Abstract In this paper, we review the contributions to date for the multi-product newsvendor problem (MPNP). Our focus is on the current literature concerning the mathematical models and the solution methods for the multi-item newsvendor problems with single or multiple constraints, as well as the effects of substitute and complementary products on the stocking decisions and expected profits. We present some extensions to the current work for a stylized setting assuming two products and conclude with directions for future research.

Keywords: Multi-product newsvendor; Complementary products; Effects of substitute; Single constraint; Multiple constraints; Future research (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-1-4614-3600-3_1

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