✦ LIBER ✦

A Polaris logistics model

✍ Scribed by M. Denicoff; J. Fennell; S. E. Haber; W. H. Marlow; Henry Solomon

Publisher: John Wiley and Sons
Year: 1964
Tongue: English
Weight: 691 KB
Volume: 11
Category: Article
ISSN: 0894-069X
DOI: 10.1002/nav.3800110303

No coin nor oath required. For personal study only.

✦ Synopsis

This paper presents a basic loss minimization model which has been applied in varying contexts for Polaris logistics problems. Definitive results a r e obtained in a general framework which extends the classic newsboy problem in two principal directions. F i r s t , probability distributions for demand a r e unrestricted. Second, a general framework for "penalties" o r "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.

'%-I the following we suppose that the mean m exists as a finite quantity in order to avoid unrewarding complications.

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