A quadratic programming approach to the multi-product newsvendor problem with side constraints |
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| Authors: | Layek L. Abdel-Malek Nathapol Areeratchakul |
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| Affiliation: | 1. Department of Industrial and Manufacturing Engineering, New Jersey Institute of Technology, Newark, NJ 07102, USA;2. Department of Industrial Engineering, King Mongkut’s Institute of Technology, North Bangkok, Bangsue, Bangkok 10800, Thailand |
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| Abstract: | A quadratic programming approach is proposed for solving the newsvendor problem with side constraints. Among its salient features are the facts that it: utilizes familiar packages to solve the problem such as Excel Solver and Lingo, can accommodate lower bounds of product’s demands that are larger than zero, and facilitates the performance of sensitivity analysis tasks. |
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| Keywords: | Newsvendor problem Optimization Quadratic programming |
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