Title :
A dynamic iteration algorithm of classic Newsboy Problem
Author :
Haoran, Shi ; Zhiqin, Li ; Yufeng, Wu
Author_Institution :
School of Energy & Environment, Xihua University, Chengdu, Sichuan, China, 610039
Abstract :
This paper presents a new iterative method for the classic Newsboy Problem based on the dynamic programming principle. The optimal inventory of the classic Newsboy Problem then can be derived. It has been found that this method has fewer steps than those of others, with which the optimal inventory can be obtained more conveniently. This method applies to various distributions and provides a new way to apply and extend the Newsboy Problem.
Keywords :
Analytical models; Computational modeling; Educational institutions; Heuristic algorithms; Logistics; Operations research; Stochastic processes; dynamic iteration method; newsboy problem; optimal order quantity;
Conference_Titel :
Information Science and Engineering (ICISE), 2010 2nd International Conference on
Conference_Location :
Hangzhou, China
Print_ISBN :
978-1-4244-7616-9
DOI :
10.1109/ICISE.2010.5691693
