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Single period, single product newsvendor model with random supply shock
Liu, K; Li, JA; Lai, KK
2004-11-01
Source PublicationEUROPEAN JOURNAL OF OPERATIONAL RESEARCH
ISSN0377-2217
Volume158Issue:3Pages:609-625
AbstractIn order to investigate the efficiency of policies made by the industrial administration office (IAO for short) so as to keep market order, the authors propose a shocked inventory model of one product with both genuine and counterfeit qualities. The checking policies made by the IAO are considered to be a random shock for the inventory model by examination of the qualities of the products, which will expropriate the counterfeit products. The paper makes two contributions. First, while discussing several conditions, the authors provide a basic theory, which is a kind of extension of the newsvendor problem, and prove some properties of the optimal policies for the shocked inventory model with a fixed random checking rate. Second, the authors give some recommendations as to how the IAO can formulate its checking policies. An example demonstrates the relationship between checking policies and optimal inventory policies. (C) 2003 Elsevier B.V. All rights reserved.
Keywordinventory counterfeit shock checking rate
DOI10.1016/S0377-2217(03)00382-5
Language英语
WOS Research AreaBusiness & Economics ; Operations Research & Management Science
WOS SubjectManagement ; Operations Research & Management Science
WOS IDWOS:000222368700007
PublisherELSEVIER SCIENCE BV
Citation statistics
Cited Times:6[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.amss.ac.cn/handle/2S8OKBNM/19760
Collection应用数学研究所
Affiliation1.City Univ Hong Kong, Dept Management Sci, Kowloon, Hong Kong, Peoples R China
2.Chinese Acad Sci, Inst Appl Math, Acad Math & Syst Sci, Beijing 100080, Peoples R China
Recommended Citation
GB/T 7714
Liu, K,Li, JA,Lai, KK. Single period, single product newsvendor model with random supply shock[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,2004,158(3):609-625.
APA Liu, K,Li, JA,&Lai, KK.(2004).Single period, single product newsvendor model with random supply shock.EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,158(3),609-625.
MLA Liu, K,et al."Single period, single product newsvendor model with random supply shock".EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 158.3(2004):609-625.
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