July 2019
Beginner
784 pages
26h 51m
English
Content preview from Fundamentals of Supply Chain Theory, 2nd Edition
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Appendix A Multiple‐Chapter Problems
PROBLEMS
- A.1 (Worst‐Case Bound for Deterministic Newsvendor Approximation) As noted in Section 5.3.2, the papers by Zheng (1992) and Axsäter (1996) suggest bounds on the error that results from approximating a stochastic inventory model (the model of Section 5.1, for which an
policy is optimal) by a deterministic one. Suppose we do the same thing for the newsvendor model, setting S equal to the optimal solution to the deterministic problem, i.e., 
. Assume the demand is distributed 
.- Prove that
where
is the expected newsvendor cost if S is the order‐up‐to level and 
. - Is it possible to identify a fixed worst‐case bound
that holds for any values of the parameters
, and
? Explain your answer.
- Prove that
- A.2 (Optimizing Compost Inventory)
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