The multi-product newsvendor problem: Review, extensions, and directions for future research

Nazli Turken, Yinliang Tan, Asoo J. Vakharia, Lan Wang, Ruoxuan Wang, Arda Yenipazarli

Research output: Contribution to book or proceedingChapterpeer-review

29 Scopus citations

Abstract

In this paper, we review the contributions to date for the multi-product newsvendor problem (MPNP). Our focus is on the current literature concerning the mathematical models and the solution methods for the multi-item newsvendor problems with single or multiple constraints, as well as the effects of substitute and complementary products on the stocking decisions and expected profits. We present some extensions to the current work for a stylized setting assuming two products and conclude with directions for future research.

Original languageEnglish
Title of host publicationInternational Series in Operations Research and Management Science
PublisherSpringer New York LLC
Pages3-39
Number of pages37
DOIs
StatePublished - 2012

Publication series

NameInternational Series in Operations Research and Management Science
Volume176
ISSN (Print)0884-8289

Scopus Subject Areas

  • Software
  • Computer Science Applications
  • Strategy and Management
  • Management Science and Operations Research
  • Applied Mathematics

Keywords

  • Complementary products
  • Effects of substitute
  • Future research
  • Multi-product newsvendor
  • Multiple constraints
  • Single constraint

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