Inventory Control: Newsvendor

In course

Description

This lecture covers inventory control focusing on the Newsvendor model, which deals with uncertain demand in a single period. It discusses the assumptions, decision variables, and cost contributions of the model. The lecture also explores extensions of the Newsvendor model, such as multiple planning periods and continuous review systems like the (Q,R) policy. Different product types requiring different supply chains and inventory management strategies are also discussed.

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https://mediaspace.epfl.ch/media/0_2d69j5ls

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