IEEE Transactions on Systems, Man, and Cybernetics, Part A: Systems and Humans - Special issue on recent advances in biometrics
Optimal pricing and stocking decisions for newsvendor problem with value-at-risk consideration
IEEE Transactions on Systems, Man, and Cybernetics, Part A: Systems and Humans - Special issue on model-based diagnostics
A hybrid SARIMA wavelet transform method for sales forecasting
Decision Support Systems
Supply chain coordination with risk sensitive retailer under target sales rebate
Automatica (Journal of IFAC)
A decision support system for mean-variance analysis in multi-period inventory control
Decision Support Systems
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The newsvendor problem is a fundamental building block for inventory management with a stochastic demand. The classical newsvendor problem focuses on a sole objective of either minimizing the expected cost or maximizing the expected profit. However, the performance measure with expected value alone is insufficient, and it ignores the risk preferences of the decision makers. As a result, we carry out a mean-variance analysis of the newsvendor problem. We construct analytical models and reveal the problem's structural properties. We propose the solution schemes which help to identify the optimal solutions. Interesting findings regarding the efficient frontier, the case with a stockout penalty cost, and the safety-first objective are discussed.