Displaying similar documents to “On solving some problems of the stochastic theory of configurations by modelling”

Newsvendor solutions with general random yield distributions

Scott E. Grasman, Zaki Sari, Tewfik Sari (2007)

RAIRO - Operations Research

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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...