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The saliency of returns in today’s business world is unquestionable, in such items as toys, Christmas decorations, books, seasonal/fashion items and the like. This is largely due to the high economic benefits prevalent in some industries today and to the increasing opportunities for resale in secondary and global markets. This paper attempts to model the profitability of returns policy in presence...
This paper analytically addresses the Bicriteria decision newsvendor problem of a retailer with the conflicting goals of maximizing the expected profit and the probability of exceeding it and obtains a closed form solution for a uniformly distributed demand. This is done by using the existence of a closed form solution for the second criterion to arrive at the solution for the Bicriteria problem....
The newsvendor problem with pricing is an important tool that provides the relationship between the operational and marketing issues at the firm’s level. This paper investigates the use of the distribution free approach to solve the standard newsvendor problem with pricing and its extension to the holding and shortage cost case. The approach is vital for the situations in which a firm may be missing...
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