A New Newsvendor Problem with Time-based Parameters Under Normally Distributed Demands

摘要

The classic newsvendor model normally deals with single factor and single period, where the purchase timing, the time-variant variance of the demand and guaranteed delivery time are neglected. This paper simultaneously considered the above three factors and presented a newsvendor model embedded with time-factors, in the background of two stage supply chain whose products were of time-effectiveness. Normal distribution for the demand was adopted and the mechanism of wholesale price game theory was applied. The results showed that that the optimal decision group for the partners is existent. The whole supply chain performance could be greatly enhanced in the new model. It also showed that the optimal due time guaranteed by the Manufacturer is shorter when the Retailer is the leader in Supply chain.