The distribution free newsboy problem with partial information
by Diatha Krishna Sundar; K. Ravikumar; Siddharth Mahajan
International Journal of Operational Research (IJOR), Vol. 33, No. 4, 2018

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.

Online publication date: Wed, 05-Dec-2018

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