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Handbook of Newsvendor Problems pp 3–39Cite as

The Multi-product Newsvendor Problem: Review, Extensions, and Directions for Future Research

Part of the International Series in Operations Research & Management Science book series (ISOR,volume 176)

Abstract

In this paper, we review the contributions to date for the multi-product newsvendor problem (MPNP). Our focus is on the current literature concerning the mathematical models and the solution methods for the multi-item newsvendor problems with single or multiple constraints, as well as the effects of substitute and complementary products on the stocking decisions and expected profits. We present some extensions to the current work for a stylized setting assuming two products and conclude with directions for future research.

Keywords

  • Multi-product newsvendor
  • Complementary products
  • Effects of substitute
  • Single constraint
  • Multiple constraints
  • Future research

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Notes

  1. 1.

    For obvious reasons, it is generally assumed that g i  < v i .

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Authors and Affiliations

  1. Department of Information Systems & Operations Management, University of Florida, Gainesville, FL, 32611–7169, USA

    Nazli Turken, Yinliang Tan, Asoo J. Vakharia, Lan Wang, Ruoxuan Wang & Arda Yenipazarli

Authors
  1. Nazli Turken
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  2. Yinliang Tan
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  3. Asoo J. Vakharia
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  4. Lan Wang
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  5. Ruoxuan Wang
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  6. Arda Yenipazarli
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Corresponding author

Correspondence to Asoo J. Vakharia .

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Editors and Affiliations

  1. , Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong SAR

    Tsan-Ming Choi

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Turken, N., Tan, Y., Vakharia, A.J., Wang, L., Wang, R., Yenipazarli, A. (2012). The Multi-product Newsvendor Problem: Review, Extensions, and Directions for Future Research. In: Choi, TM. (eds) Handbook of Newsvendor Problems. International Series in Operations Research & Management Science, vol 176. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-3600-3_1

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