With the increasing use of information technology and availability of high-quality data, business... more With the increasing use of information technology and availability of high-quality data, business organizations have a greater need for analyzing data and using this analysis to guide their decisions. An information system based on decision models is called a decision support system (DSS). A DSS uses the data residing in spreadsheets and/or databases, models it, processes or analyzes it using problem-specific methodologies, and assists the user in the decision-making process through a graphical user interface. In this chapter, we discuss the usefulness and capabilities of spreadsheet software for developing a DSS. Spreadsheets are a great option for developing many DSS applications since they are available with almost any operational system and have many features that are relatively easy to learn and can be implemented for a large variety of problems.
In this paper, we review the contributions to date for analyzing the newsvendor problem. Our focu... more In this paper, we review the contributions to date for analyzing the newsvendor problem. Our focus is on examining the specific extensions for analyzing this problem in the context of modeling customer demand, supplier costs, and the buyer risk profile. More specifically, we analyze the impact of market price, marketing effort, and stocking quantity on customer demand; how supplier prices can serve as a coordination mechanism in a supply chain setting; integrating alternative supplier pricing policies within the newsvendor framework; and how the buyer’s risk profile moderates the newsvendor order quantity decision. For each of these areas, we summarize the current literature and develop extensions. Finally, we also propose directions for future research.
With the increasing use of information technology and availability of high-quality data, business... more With the increasing use of information technology and availability of high-quality data, business organizations have a greater need for analyzing data and using this analysis to guide their decisions. An information system based on decision models is called a decision support system (DSS). A DSS uses the data residing in spreadsheets and/or databases, models it, processes or analyzes it using problem-specific methodologies, and assists the user in the decision-making process through a graphical user interface. In this chapter, we discuss the usefulness and capabilities of spreadsheet software for developing a DSS. Spreadsheets are a great option for developing many DSS applications since they are available with almost any operational system and have many features that are relatively easy to learn and can be implemented for a large variety of problems.
In this paper, we review the contributions to date for analyzing the newsvendor problem. Our focu... more In this paper, we review the contributions to date for analyzing the newsvendor problem. Our focus is on examining the specific extensions for analyzing this problem in the context of modeling customer demand, supplier costs, and the buyer risk profile. More specifically, we analyze the impact of market price, marketing effort, and stocking quantity on customer demand; how supplier prices can serve as a coordination mechanism in a supply chain setting; integrating alternative supplier pricing policies within the newsvendor framework; and how the buyer’s risk profile moderates the newsvendor order quantity decision. For each of these areas, we summarize the current literature and develop extensions. Finally, we also propose directions for future research.
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