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| SINGLE-PERIOD TWO-PRODUCT INVENTORY MODEL WITH SUBSTITUTION:SOLUTION AND PROPERTIES | |
| 作者姓名： | Lianqiao CAI Jian CHEN Houmin VAN School of International Business Beijing Foreign Studies University Beijing China School of Economics and Management Tsinghua University Beijing China |
| 作者单位： | Lianqiao CAI Jian CHEN Houmin VAN School of International Business，Beijing Foreign Studies University Beijing，100089，China School of Economics and Management，Tsinghua University Beijing，100084，China Department of System Engineering and Engineering Management Chinese University of Hong Kong，Hong Kong，China |
| 基金项目： | This work was supported partly by NSFC/RGC Joint Research Program under grant 79910161987，the National Science Foundation of China(79825102,70231010,7032 1001) |
| 摘 要： | In this paper, we study a single-period two-product inventory model with stochastic demands and downward substitution. The optimal order quantities are presented and some properties are provided. Comparing with newsboy model, we prove that both the profit and the fill rate can be improved by using the substitution policy. |
SINGLE-PERIOD TWO-PRODUCT INVENTORY MODEL WITH SUBSTITUTION:SOLUTION AND PROPERTIES |
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| Lianqiao CAI Jian CHEN Houmin VAN School of International Business,Beijing Foreign Studies University Beijing,,China School of Economics and Management,Tsinghua University Beijing,,China.SINGLE-PERIOD TWO-PRODUCT INVENTORY MODEL WITH SUBSTITUTION:SOLUTION AND PROPERTIES[J].Journal of Systems Science and Systems Engineering,2004,13(1). | |
| Authors: | Lianqiao CAI Jian CHEN Houmin YAN |
| Institution: | 1. School of International Business, Beijing Foreign Studies University Beijing, 100089, China 2. School of Economics and Management, Tsinghua University Beijing, 100084, China 3. Department of System Engineering and Engineering Management Chinese University of Hong Kong, Hong Kong, China |
| Abstract: | In this paper, we study a single-period two-product inventory model with stochastic demands and downward substitution. The optimal order quantities are presented and some properties are provided. Comparing with newsboy model, we prove that both the profit and the fill rate can be improved by using the substitution policy. |
| Keywords: | Inventory model optimal order quantity substitution newsboy model |
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