@inproceedings{49d35a8dc3404fb0834109e1b7f6de7b,
title = "Flexile ordering policy of two-stage newsvendor model with demand updating under demand uncertainty",
abstract = "This paper studies the retailer's flexible ordering policy for a two-stage newsvendor model with demand information updating. Demand uncertainty and the limited order quantity are considered at the same time. The optimal order quantities of the first and second-stage are obtained by analyzing the characteristics of the two stage newsvendor model, and an optimal order policy is proposed in the second-stage. Furthermore, we discuss the optimal order quantities of the first and second-stage in the cases of perfect and worthless information. We also compare the limited and unlimited reducing order in the cases of the optimal first-stage and total order quantities. Numerical examples are given to describe the relationships of the total optimal order quantity, market signal, the information accuracy and flexible level.",
keywords = "Demand uncertainty, Flexible ordering policy, Information updating",
author = "Rui Wang and Shiji Song and Yuli Zhang and Cheng Wu",
note = "Publisher Copyright: {\textcopyright} 2016 TCCT.; 35th Chinese Control Conference, CCC 2016 ; Conference date: 27-07-2016 Through 29-07-2016",
year = "2016",
month = aug,
day = "26",
doi = "10.1109/ChiCC.2016.7553773",
language = "English",
series = "Chinese Control Conference, CCC",
publisher = "IEEE Computer Society",
pages = "2697--2702",
editor = "Jie Chen and Qianchuan Zhao and Jie Chen",
booktitle = "Proceedings of the 35th Chinese Control Conference, CCC 2016",
address = "United States",
}