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- Publisher Website: 10.1016/S0377-2217(96)00304-9
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Article: Reordering strategies for a newsboy-type product
Title | Reordering strategies for a newsboy-type product |
---|---|
Authors | |
Keywords | Inventory Newsboy-Type Products Single-Period Inventories |
Issue Date | 1997 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor |
Citation | European Journal Of Operational Research, 1997, v. 103 n. 3, p. 557-572 How to Cite? |
Abstract | This paper considers the very common situation in which a single-period 'newsboy' type product may be ordered or produced twice during a season/period. We show that the explicit consideration of this reorder opportunity makes the newsboy problem very much richer. The specific version considered in this paper allows a reorder during mid-season after the early-season demand has been observed, and this reorder arrives after a given lead time. The demand distributions during the various portions of the season may have very general distribution forms; also, the late-season and early-season demands may be dependent. Solution procedures are developed to find the best way to exploit this reorder opportunity, and our numerical solutions indicate that this reorder opportunity can improve profits considerably as long as the product's profit margin is not very high. Other real-world variations of this two-order newsboy problem are briefly discussed. © 1997 Elsevier Science B.V. |
Persistent Identifier | http://hdl.handle.net/10722/177862 |
ISSN | 2023 Impact Factor: 6.0 2023 SCImago Journal Rankings: 2.321 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lau, HS | en_US |
dc.contributor.author | Lau, AHL | en_US |
dc.date.accessioned | 2012-12-19T09:40:36Z | - |
dc.date.available | 2012-12-19T09:40:36Z | - |
dc.date.issued | 1997 | en_US |
dc.identifier.citation | European Journal Of Operational Research, 1997, v. 103 n. 3, p. 557-572 | en_US |
dc.identifier.issn | 0377-2217 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177862 | - |
dc.description.abstract | This paper considers the very common situation in which a single-period 'newsboy' type product may be ordered or produced twice during a season/period. We show that the explicit consideration of this reorder opportunity makes the newsboy problem very much richer. The specific version considered in this paper allows a reorder during mid-season after the early-season demand has been observed, and this reorder arrives after a given lead time. The demand distributions during the various portions of the season may have very general distribution forms; also, the late-season and early-season demands may be dependent. Solution procedures are developed to find the best way to exploit this reorder opportunity, and our numerical solutions indicate that this reorder opportunity can improve profits considerably as long as the product's profit margin is not very high. Other real-world variations of this two-order newsboy problem are briefly discussed. © 1997 Elsevier Science B.V. | en_US |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor | en_US |
dc.relation.ispartof | European Journal of Operational Research | en_US |
dc.subject | Inventory | en_US |
dc.subject | Newsboy-Type Products | en_US |
dc.subject | Single-Period Inventories | en_US |
dc.title | Reordering strategies for a newsboy-type product | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, AHL: ahlau@business.hku.hk | en_US |
dc.identifier.authority | Lau, AHL=rp01072 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/S0377-2217(96)00304-9 | - |
dc.identifier.scopus | eid_2-s2.0-0031356407 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0031356407&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 103 | en_US |
dc.identifier.issue | 3 | en_US |
dc.identifier.spage | 557 | en_US |
dc.identifier.epage | 572 | en_US |
dc.identifier.isi | WOS:A1997YL12200011 | - |
dc.publisher.place | Netherlands | en_US |
dc.identifier.scopusauthorid | Lau, HS=7201497264 | en_US |
dc.identifier.scopusauthorid | Lau, AHL=7202626080 | en_US |
dc.identifier.issnl | 0377-2217 | - |