The distribution free newsboy problem with partial information

Diatha Krishna Sundar, K. Ravikumar and Siddharth Mahajan

International Journal of Operational Research, 2018, vol. 33, issue 4, 481-496

Abstract: We present a new ordering rule for the newsboy problem where besides the mean and variance of demand, the probability that the demand assumes the value zero is known. We derive a lower bound for the expected profit over the set of distributions with given parameters and construct a distribution which achieves the bound. We apply our analysis to an M/G/1 queue with server vacations, which is the base model for many production-inventory systems.

Keywords: newsboy problem; inventory control; server vacations; M/G/1 queue. (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.inderscience.com/link.php?id=96488 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:33:y:2018:i:4:p:481-496

Access Statistics for this article

More articles in International Journal of Operational Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().