✦ LIBER ✦

The single-item newsboy problem with dual performance measures and quantity discounts

✍ Scribed by Chen-Sin Lin; Dennis E. Kroll

Publisher: Elsevier Science
Year: 1997
Tongue: English
Weight: 218 KB
Volume: 100
Category: Article
ISSN: 0377-2217
DOI: 10.1016/s0377-2217(96)00158-0

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✦ Synopsis

This paper considers models for the single-item newsboy problem with quantity discount and the following dual performance measure: "maximize the expected profit subject to a constraint that the probability of achieving a target profit level is no less than a predetermined risk level." We also consider two types of quantity discount: all-unit and incremental. For our models with zero shortage cost, a closed-form solution for determining the optimal order quantity is derived. However, models with positive shortage cost can only be solved numerically.

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