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    A multi-product newsvendor problem with budget and loss constraints

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    Fulltext not available
    Authors
    Zhou, Y.
    Chen, X.
    Xu, X.
    Yu, Changjun
    Date
    2014
    Type
    Journal Article
    
    Metadata
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    Citation
    Zhou, Y. and Chen, X. and Xu, X. and Yu, C. 2014. A multi-product newsvendor problem with budget and loss constraints. International Journal of Information Technology & Decision Making. 13 (2): pp. 1-18.
    Source Title
    International Journal of Information Technology & Decision Making
    DOI
    10.1142/S0219622014500448
    ISSN
    02196220
    School
    Department of Mathematics and Statistics
    URI
    http://hdl.handle.net/20.500.11937/41396
    Collection
    • Curtin Research Publications
    Abstract

    The solution space of a multi-product newsvendor problem (MPNP) with two constraints is analyzed and divided by four cases. One constraint is a loss constraint, which is nonlinear and has the integral symbol, while the other is a budget constraint. The threshold values of different solution regions are calculated and the corresponding solving methods for each case are provided, reducing the complexity of problem solving. The paper suggests the loss-based marginal utility deleting method solves non-negative constraint problems, and the linear approximate approach deals with nonlinear constraint optimal problems with an integral symbol in the model. Numerical examples are given, showing that the solving approach is more effective.

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