TY - GEN
T1 - On comparing methodologies to solving the constrained multi-product newsvendor problem
AU - Shan, Pinyuan
AU - Abdel-Malek, Layek
N1 - Publisher Copyright:
© 2019 IISE Annual Conference and Expo 2019. All rights reserved.
PY - 2019
Y1 - 2019
N2 - There is a growing interest in the constrained Newsvendor problem. This interest has generated several methods and approaches to solving it. These methods and approaches vary in nature and outcomes ranging from iterative to approximate and those which can tackle one constraint to other that can deal with multiple ones. In this paper, these existing methods and approaches are reviewed and their performance are compared. The comparisons include, inter alia, the number of constraints which can be handled by each, the considered probability density functions (PDFs.), the complexity and ease of applying these methods and the closeness to the optimal solution. Examples are given to illustrate the advantage of the compared methods and approaches in terms of the different performance measures.
AB - There is a growing interest in the constrained Newsvendor problem. This interest has generated several methods and approaches to solving it. These methods and approaches vary in nature and outcomes ranging from iterative to approximate and those which can tackle one constraint to other that can deal with multiple ones. In this paper, these existing methods and approaches are reviewed and their performance are compared. The comparisons include, inter alia, the number of constraints which can be handled by each, the considered probability density functions (PDFs.), the complexity and ease of applying these methods and the closeness to the optimal solution. Examples are given to illustrate the advantage of the compared methods and approaches in terms of the different performance measures.
KW - Inventory Control
KW - Newsvendor
KW - Supply Chain Management
UR - http://www.scopus.com/inward/record.url?scp=85095450525&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85095450525&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85095450525
T3 - IISE Annual Conference and Expo 2019
BT - IISE Annual Conference and Expo 2019
PB - Institute of Industrial and Systems Engineers, IISE
T2 - 2019 Institute of Industrial and Systems Engineers Annual Conference and Expo, IISE 2019
Y2 - 18 May 2019 through 21 May 2019
ER -