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Newsvendor solutions with general random yield distributions

Scott E. GrasmanZaki SariTewfik Sari — 2007

RAIRO - Operations Research

Most systems are characterized by uncertainties that cause throughput to be highly variable, for example, many modern production processes and services are substantially affected by random yields. When yield is random, not only is the usable quantity uncertain, but the random yield reduces usable capacity and throughput in the system. For these reasons, strategies are needed that incorporate random yield. This paper presents the analysis of the newsvendor model with a general random yield distribution,...

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