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International Series in Operations Research & Management Science

Handbook of Newsvendor Problems

Models, Extensions and Applications

Editors: Choi, Tsan-Ming (Ed.)

  • First handbook devoted to Newsvendor Problems
  • Will be the standard reference in the field
  • Presents the basic models and extensions, then examines practical applications
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Buy this book

eBook $149.00
price for USA in USD (gross)
  • ISBN 978-1-4614-3600-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA in USD
  • ISBN 978-1-4614-3599-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA in USD
  • ISBN 978-1-4939-0034-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

As a fundamental problem in stochastic inventory control, the newsvendor problem has been studied since the 18th century in the economic literature, and has been widely used to analyze supply chains in fashion and seasonal product industries. Since the 1950s, the newsvendor problem has been extensively studied in operations research and extended to model a variety of real-life problems. The simplest and most elementary version of the newsvendor problem is an optimal stocking problem in which a newsvendor needs to decide how many newspapers to order for future demand, where the future demand is uncertain and follows a stationary distribution. Research in this area has greatly increased over the last few years, and now the Handbook of Newsvendor Problems: Models, Extensions and Applications captures the state of the art.

The handbook consists of two sections -- Models and Extensions, and Applications. Each section includes many interesting works in the respective domain. Section I presents papers on topics like the multi-product newsvendor problems; the newsvendor problem with law invariant coherent measures of risk; a Copula approach to inventory pooling problems with newsvendor products; repeated newsvendor games with transshipments; cooperative newsvendor games; an economic interpretation for the price-setting newsvendor problem; newsvendor models with alternative risk preferences within expected utility theory and prospect theory frameworks; and newsvendor problems with VaR and CVaR consideration. Section II presents papers on such topics as a two-period newsvendor problem for closed-loop supply chain analysis; the remanufacturing newsvendor problem; inventory centralization in a newsvendor setting when shortage costs differ; production planning on an unreliable machine for multiple items; analysis of the newsvendor problem under carbon emissions policies; optimal decisions of the manufacturer and distributor in a fresh product supply chain involving long distance transportation; a newsvendor perspective on profit target setting for multiple divisions; and a portfolio approach to multi-product newsvendor problem with budget constraint.

This well-balanced handbook presents a wealth of theoretical results from different perspectives. With contributions from many of the leading researchers in the field, the Handbook of Newsvendor Problems: Models, Extensions and Applications is a timely addition to the literature and consolidates all the new and exciting works related to the newsvendor problem into one high quality source.

Reviews

From the reviews:

 

“The Handbook of Newsvendor Problems: Models, Extensions and Applications addresses a wide variety of problems illustrating the breadth and depth of the current research related to the newsvendor problem––research on different models, model enhancements and extensions, and real-world applications. … This publication includes many applications and suggestions for future research, which will be valuable to researchers, practitioners, and postgraduate students who are interested in working on the newsvendor problem.” (Hans W. Ittmann, Interfaces, Vol. 44 (1), January-February, 2014)


Table of contents (16 chapters)

  • The Multi-product Newsvendor Problem: Review, Extensions, and Directions for Future Research

    Turken, Nazli (et al.)

    Pages 3-39

  • A Multi-item Risk-Averse Newsvendor with Law Invariant Coherent Measures of Risk

    Choi, Sungyong

    Pages 41-79

  • A Copula Approach to Inventory Pooling Problems with Newsvendor Products

    Aydın, Burcu (et al.)

    Pages 81-101

  • Repeated Newsvendor Game with Transshipments

    Huang, Xiao (et al.)

    Pages 103-136

  • Cooperative Newsvendor Games: A Review

    Montrucchio, Luigi (et al.)

    Pages 137-162

Buy this book

eBook $149.00
price for USA in USD (gross)
  • ISBN 978-1-4614-3600-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA in USD
  • ISBN 978-1-4614-3599-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA in USD
  • ISBN 978-1-4939-0034-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Handbook of Newsvendor Problems
Book Subtitle
Models, Extensions and Applications
Editors
  • Tsan-Ming Choi
Series Title
International Series in Operations Research & Management Science
Series Volume
176
Copyright
2012
Publisher
Springer-Verlag New York
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4614-3600-3
DOI
10.1007/978-1-4614-3600-3
Hardcover ISBN
978-1-4614-3599-0
Softcover ISBN
978-1-4939-0034-3
Series ISSN
0884-8289
Edition Number
1
Number of Pages
XII, 384
Topics