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A Copula Approach to Inventory Pooling Problems with Newsvendor Products

In: Handbook of Newsvendor Problems

Author

Listed:
  • Burcu Aydın

    (HP Labs)

  • Kemal Guler

    (HP Labs)

  • Enis Kayış

    (HP Labs)

Abstract

This study focuses on the inventory pooling problem under the newsvendor framework. The specific focus is the change in inventory levels when product inventories are pooled. We provide analytical conditions under which an increase (or decrease) in the total inventory levels should be expected. We introduce the copula framework to model a wide range of dependence structures between pooled demands, and provide a numerical study that gives valuable insights into the effects of marginal demand distributions and dependence structure on inventory pooling decisions.

Suggested Citation

  • Burcu Aydın & Kemal Guler & Enis Kayış, 2012. "A Copula Approach to Inventory Pooling Problems with Newsvendor Products," International Series in Operations Research & Management Science, in: Tsan-Ming Choi (ed.), Handbook of Newsvendor Problems, edition 127, chapter 0, pages 81-101, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-3600-3_3
    DOI: 10.1007/978-1-4614-3600-3_3
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    Citations

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    Cited by:

    1. Saurabh Bansal & James S. Dyer, 2017. "Technical Note—Multivariate Partial-Expectation Results for Exact Solutions of Two-Stage Problems," Operations Research, INFORMS, vol. 65(6), pages 1526-1534, December.
    2. Chaolin Yang & Zhenyu Hu & Sean X. Zhou, 2021. "Multilocation Newsvendor Problem: Centralization and Inventory Pooling," Management Science, INFORMS, vol. 67(1), pages 185-200, January.
    3. Çömez-Dolgan, Nagihan & Tanyeri, Başak, 2015. "Inventory performance with pooling: Evidence from mergers and acquisitions," International Journal of Production Economics, Elsevier, vol. 168(C), pages 331-339.
    4. Kostas Bimpikis & Mihalis G. Markakis, 2016. "Inventory Pooling Under Heavy-Tailed Demand," Management Science, INFORMS, vol. 62(6), pages 1800-1813, June.
    5. Silbermayr, Lena & Jammernegg, Werner & Kischka, Peter, 2017. "Inventory pooling with environmental constraints using copulas," European Journal of Operational Research, Elsevier, vol. 263(2), pages 479-492.
    6. Lei Lei & Jun Ru & Ruixia Shi & Jun Zhang, 2022. "A Two‐Product Newsvendor Problem with Partial Demand Substitution," Production and Operations Management, Production and Operations Management Society, vol. 31(3), pages 1157-1173, March.

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