The News Boy Inventory Model: Some Pedagogical Developments
نویسنده
چکیده
This paper is a pedagogical approach for teaching the Newsboy inventory problem, in engineer and business school. In most cases, students study the value that maximizes the expected revenue. In some cases, they study the expected cost itself, but never the associated risk. This article studies the standard deviation of the expected cost for two classical models (including or not salvage revenue) and for three classical distributions (normal, uniform and exponential). The formulas can be drawn with any spreadsheet program and the student can evaluate the expected revenue and the risk associated with any ordering value.
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