Start-up Newsvendors' Inventory and Selling Price Decisions facing Budget constraints, demand uncertainties, and Forecasting Errors

Assuming a start-up newsvendor is planning to place an order from the suppler and then sell to the customers. In this paper, we analyze how the start-up newsvendor take into consideration of budget constraints, demand... [ view full abstract ]

Assuming a start-up newsvendor is planning to place an order from the suppler and then sell to the customers. In this paper, we analyze how the start-up newsvendor take into consideration of budget constraints, demand uncertainties, and demand growths to best decide the order quantity and the selling price in multiple periods. The corresponding models for ordering and pricing are developed and simulations will be used to testify the developed models.