A dynamic iteration algorithm of classic Newsboy Problem

2nd International Conference on Information Science and Engineering, ICISE2010 - Proceedings（2010）

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摘要

This paper presents a new iterative method for the classic Newsboy Problem based on the dynamic programming principle. The optimal inventory of the classic Newsboy Problem then can be derived. It has been found that this method has fewer steps than those of others, with which the optimal inventory can be obtained more conveniently. This method applies to various distributions and provides a new way to apply and extend the Newsboy Problem. © 2010 IEEE.

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关键词

dynamic iteration method,newsboy problem,optimal order quantity,computational modeling,operations research,logistics,iterative algorithm,iteration method,stochastic processes

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