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The distribution free newsboy problem with partial information

Author

Listed:
  • Diatha Krishna Sundar
  • K. Ravikumar
  • Siddharth Mahajan

Abstract

We present a new ordering rule for the newsboy problem where besides the mean and variance of demand, the probability that the demand assumes the value zero is known. We derive a lower bound for the expected profit over the set of distributions with given parameters and construct a distribution which achieves the bound. We apply our analysis to an M/G/1 queue with server vacations, which is the base model for many production-inventory systems.

Suggested Citation

  • Diatha Krishna Sundar & K. Ravikumar & Siddharth Mahajan, 2018. "The distribution free newsboy problem with partial information," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 33(4), pages 481-496.
    • Handle: RePEc:ids:ijores:v:33:y:2018:i:4:p:481-496
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    Cited by:

    1. Rung-Hung Su & Tse-Min Tseng & Chun Lin, 2024. "Integrated Profitability Evaluation for a Newsboy-Type Product in Own Brand Manufacturers," Mathematics, MDPI, vol. 12(4), pages 1-23, February.

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