NewsvendorModell
The NewsvendorModell, often referred to in English as the Newsvendor model, is a classic one-period inventory problem in operations research. It is used to determine the optimal order quantity for perishable or single-period products when demand is uncertain. The objective is to maximize expected profit or minimize expected cost, given selling price, purchase cost, and any salvage value for leftover stock.
The model considers a single decision variable Q (the order Quantity) and a random demand D during
A key result is the critical fractile solution. Define Cu = p − c as the underage (lost
Extensions include multi-product or multi-period settings, service-level constraints, and dynamic or robust approaches. Limitations involve the