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Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time

Ningombam Sanjib Meitei, Snigdha Banerjee (2013)

RAIRO - Operations Research - Recherche Opérationnelle

Analysis of empirical sales data lead us to consider newsboy model for four practical market conditions arising from the presence/absence of stochastic lead time and exogenous linear temporal decline in selling price when distribution of the stochastic demand depends upon initial selling price. Viability of the solutions is discussed for three strategies of obtaining optimal initial selling price and/or ordering quantity. Numerical studies are conducted to assess the effects of lead time and price...

On the computational complexity of centers locating in a graph

Ján Plesník (1980)

Aplikace matematiky

It is shown that the problem of finding a minimum k -basis, the n -center problem, and the p -median problem are N P -complete even in the case of such communication networks as planar graphs with maximum degree 3. Moreover, a near optimal m -center problem is also N P -complete.

Online LIB problems : heuristics for bin covering and lower bounds for bin packing

Luke Finlay, Prabhu Manyem (2005)

RAIRO - Operations Research - Recherche Opérationnelle

We consider the NP Hard problems of online Bin Covering and Packing while requiring that larger (or longer, in the one dimensional case) items be placed at the bottom of the bins, below smaller (or shorter) items — we call such a version, the LIB version of problems. Bin sizes can be uniform or variable. We look at computational studies for both the Best Fit and Harmonic Fit algorithms for uniform sized bin covering. The Best Fit heuristic for this version of the problem is introduced here. The...

Online LIB problems: Heuristics for Bin Covering and lower bounds for Bin Packing

Luke Finlay, Prabhu Manyem (2006)

RAIRO - Operations Research

We consider the NP Hard problems of online Bin Covering and Packing while requiring that larger (or longer, in the one dimensional case) items be placed at the bottom of the bins, below smaller (or shorter) items — we call such a version, the LIB version of problems. Bin sizes can be uniform or variable. We look at computational studies for both the Best Fit and Harmonic Fit algorithms for uniform sized bin covering. The Best Fit heuristic for this version of the problem is introduced here. The...

Optimal and Near-Optimal (s,S) Inventory Policies for Levy Demand Processes

Robin O. Roundy, Gennady Samorodnitsky (2010)

RAIRO - Operations Research

A Levy jump process is a continuous-time, real-valued stochastic process which has independent and stationary increments, with no Brownian component. We study some of the fundamental properties of Levy jump processes and develop (s,S) inventory models for them. Of particular interest to us is the gamma-distributed Levy process, in which the demand that occurs in a fixed period of time has a gamma distribution. We study the relevant properties of these processes, and we develop a quadratically convergent...

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