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Impacts of Transportation Cost on Distribution-Free Newsboy Problems
Joint Authors
Shu, Ming-Hung
Yeh, Chun-Wu
Fu, Yen-Chen
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-09-29
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
A distribution-free newsboy problem (DFNP) has been launched for a vendor to decide a product’s stock quantity in a single-period inventory system to sustain its least maximum-expected profits when combating fierce and diverse market circumstances.
Nowadays, impacts of transportation cost on determination of optimal inventory quantity have become attentive, where its influence on the DFNP has not been fully investigated.
By borrowing an economic theory from transportation disciplines, in this paper the DFNP is tackled in consideration of the transportation cost formulated as a function of shipping quantity and modeled as a nonlinear regression form from UPS’s on-site shipping-rate data.
An optimal solution of the order quantity is computed on the basis of Newton’s approach to ameliorating its complexity of computation.
As a result of comparative studies, lower bounds of the maximal expected profit of our proposed methodologies surpass those of existing work.
Finally, we extend the analysis to several practical inventory cases including fixed ordering cost, random yield, and a multiproduct condition.
American Psychological Association (APA)
Shu, Ming-Hung& Yeh, Chun-Wu& Fu, Yen-Chen. 2014. Impacts of Transportation Cost on Distribution-Free Newsboy Problems. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-10.
https://search.emarefa.net/detail/BIM-1044168
Modern Language Association (MLA)
Shu, Ming-Hung…[et al.]. Impacts of Transportation Cost on Distribution-Free Newsboy Problems. Mathematical Problems in Engineering No. 2014 (2014), pp.1-10.
https://search.emarefa.net/detail/BIM-1044168
American Medical Association (AMA)
Shu, Ming-Hung& Yeh, Chun-Wu& Fu, Yen-Chen. Impacts of Transportation Cost on Distribution-Free Newsboy Problems. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-10.
https://search.emarefa.net/detail/BIM-1044168
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1044168