A Polaris logistics model

M. Denicoff, J. Fennell, S. E. Haber, W. H. Marlow and Henry Solomon

Naval Research Logistics Quarterly, 1964, vol. 11, issue 3‐4, 259-272

Abstract: This paper presents a basic loss minimization model which has been applied in varying contexts for Polaris logistics problems. Definitive results are obtained in a general framework which extends the classic newsboy problem in two principal directions. First, probability distributions for demand are unrestricted. Second, a general framework for “penalties” or “premiums” is introduced to permit formulation of possibly non‐convex loss functions. The main result is a constructive existence theorem for minimum values of these general expected loss functions.

Date: 1964
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:11:y:1964:i:3-4:p:259-272

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