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Handbook of Newsvendor Problems von Tsan-Ming (Hrsg.) Choi

Models, Extensions and Applications
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ISBN: 978-1-4939-0034-3
Einband: Kartonierter Einband (Kt)
Verfügbarkeit: Lieferbar in ca. 20-45 Arbeitstagen
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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 chaininvolving 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.

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)


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 chaininvolving 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.

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)


AutorChoi, Tsan-Ming (Hrsg.)
EinbandKartonierter Einband (Kt)
Erscheinungsjahr2014
Seitenangabe384 S.
LieferstatusLieferbar in ca. 20-45 Arbeitstagen
AusgabekennzeichenEnglisch
AbbildungenPreviously published in hardcover; XII, 384 p.
MasseH23.5 cm x B15.5 cm 605 g
CoverlagSpringer (Imprint/Brand)
ReiheInternational Series in Operations Research & Management Science
VerlagSpringer Nature EN

Alle Bände der Reihe "International Series in Operations Research & Management Science"

Über den Autor Tsan-Ming (Hrsg.) Choi

Tsan-Ming Choi (Jason) is currently Professor of Fashion Business at The Hong Kong Polytechnic University. Over the past ten years, he has actively participated in a variety of research projects on supply chain management and applied optimization for fashion business operations. He has authored/edited eleven research handbooks. He has published extensively in leading journals such as Annals of Operations Research, Automatica, Decision Support Systems, European Journal of Operational Research, IEEE Transactions on Automatic Control, IEEE Transactions on Industrial Informatics, Journal of the Textile Institute, Production and Operations Management, Service Science (INFORMS Journal), Textile Research Journal, etc. He has consulted several listed companies on supply chain management related topics. He is currently an area editor/associate editor/guest editor of Annals of Operations Research, Asia-Pacific Journal of Operational Research, Decision Sciences, Decision Support Systems, European Management Journal, IEEE Systems Journal, IEEE Transactions on Industrial Informatics, IEEE Transactions on Systems, Man, and Cybernetics - Systems, Information Sciences, Journal of the Operational Research Society, Production and Operations Management, Sustainability, Transportation Research - Part E. He has also served as an executive committee member/officer of professional organizations such as IEEE-SMC(HK) and POMS(HK) over the past several years. He received the President's Award for Excellent Achievement of The Hong Kong Polytechnic University in 2008. Most recently, he received the Best Associate Editor Award of IEEE Systems, Man, and Cybernetics Society in two consecutive years - 2013 and 2014. Before joining his current department in fall 2004, he was an assistant professor at The Chinese University of Hong Kong. T. C. Edwin Cheng is Dean of the Faculty of Business and Chair Professor of Management at The Hong Kong Polytechnic University. He obtained a B.Sc.[Eng](First Class Honours) from the University of Hong Kong, an M.Sc. from the University of Birmingham, U.K., and a Ph.D. and an Sc.D. from the University of Cambridge, U.K. He has previously taught in Canada, England, and Singapore. Prof. Cheng's research interests are in Operations Management and Operations Research. He has published over 600 papers in such journals as California Management Review, Journal of Operations Management, Management Science, MIS Quarterly, Operations Research, Organization Science, Production and Operations Management, and SIAM Journal on Optimization. He has co-authored 11 books published by Chapman and Hall, McGraw-Hill, and Springer. He received the Outstanding Young Engineer of the Year Award from the Institute of Industrial Engineers, U.S.A., in 1992 and the Croucher Award (the top research award in Hong Kong) in 2001. According to the ISI Web of Science, he has attained an h-index of 43 and generated over 7,500 non-self citations. A 2009 paper in the International Journal of Production Economics ranked him as the most productive researcher and the top 12th h-index researcher in Production/Operations Management in the world over the half-century 1959-2008. Over the years, Prof. Cheng has secured more than US$5 million in research funding from both public and private sectors to support his diverse research programmes.

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