摘要
To mitigate the uncertainty of price and demand, we study a newsvendor model with futures trading. A profit maximization model and a utility maximization model have been established. Both optimal order quantities can be determined. We characterize the property of the optimal solutions for the two maximization problems and show that the retailer will prefer to purchase fewer products for the maximal utility than for the maximal profit. Extended models considering the salvage value of inventory are also studied. Numerical experiments validated the effectiveness of the models.
| 源语言 | 英语 |
|---|---|
| 主期刊名 | Proceedings of the 28th Chinese Control and Decision Conference, CCDC 2016 |
| 出版商 | Institute of Electrical and Electronics Engineers Inc. |
| 页 | 5986-5990 |
| 页数 | 5 |
| ISBN（电子版） | 9781467397148 |
| DOI | |
| 出版状态 | 已出版 - 3 8月 2016 |
| 已对外发布 | 是 |
| 活动 | 28th Chinese Control and Decision Conference, CCDC 2016 - Yinchuan, 中国 期限: 28 5月 2016 → 30 5月 2016 |
出版系列
| 姓名 | Proceedings of the 28th Chinese Control and Decision Conference, CCDC 2016 |
|---|
会议
| 会议 | 28th Chinese Control and Decision Conference, CCDC 2016 |
|---|---|
| 国家/地区 | 中国 |
| 市 | Yinchuan |
| 时期 | 28/05/16 → 30/05/16 |
指纹
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Chen, Y., Song, S., & Zhang, Y. (2016). The newsvendor model with futures trading. 在 Proceedings of the 28th Chinese Control and Decision Conference, CCDC 2016 (页码 5986-5990). 文章 7532070 (Proceedings of the 28th Chinese Control and Decision Conference, CCDC 2016). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/CCDC.2016.7532070