Construct · 1 fields · 1 citations

newsvendor problem: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
newsvendorproblem1 CONSTRUCTNewsvendor problemARROW · OPERATIONS MANAGEMENT

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Operations management

choosing a one-time order quantity under uncertain demand by balancing the cost of overstock against the cost of shortage.

In operations management, newsvendor problem refers to choosing a one-time order quantity under uncertain demand by balancing the cost of overstock against the cost of shortage. This meaning comes from Arrow (1951) in Econometrica.[1]

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Nearby constructs

inventory1 fields · 2 citationsanchor · a standalone constructcost4 fields · 4 citationsjingle · one word, four constructsdemand4 fields · 4 citationsjingle · one word, four constructs

References

  1. Arrow, K. J., Harris, T., & Marschak, J. (1951). Optimal Inventory Policy. Econometrica, 19(3), 250. https://doi.org/10.2307/1906813

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