物流管理课件、案例与文献Newsvendor-Full(606KB).pptVIP

Comparison of two cases For addictive demand case: The variance of demand The coefficient of variation * For multiplicative demand case: The variance of demand The coefficient of variation Comparison of two cases It is intuitive that in the addictive demand case while in the multiplicative demand case. * Application to multiple products with demand substitution At the beginning of the period, Qi units of product i are stocked at the unit cost ci and sold at the price ri. The deterministic fraction aij denotes the proportion at which excess demand of product i will take product j as the substitutes. * ---“Centralized and competitive inventory models with demand substitution” OR 51(2) Centralized model The profit function is written as: Define as the effective demand for product i, it changes to: * Centralized model The first observation: The profit function is not jointly concave. * Centralized model * Pay attention to both the insights of this proposition and the techniques to derive it. Centralized model * Decentralized inventory management The profit function: * Decentralized inventory management The conditions to guarantee the existence and unique of the equilibrium. * Comparison of the centralized and decentralized model * Newsvendor Problem He Xu School of management, Huazhong University of Science and Technology CONTENT The Newsvendor problem Decisions under continuous and discrete demands Application to postponement Application to operations problems interacting with marketing issues Application to multiple products with demand substitution * NEWSVENDOR PROBLEM Newsvendor problem considers the ordering decision of one product (e.g., newspapers, magazines, fish, meat, produce, bread, milk, high fashion …) in One-period with One ordering opportunity and with A uncertain demand D * NEWSVENDOR PROBLEM Sequence of events: Make the ordering decision Q; Receive the products; Deman