The Newsboy Problem with Time-based Parameters Under Normally Distributed Demand

With the quick development of service industries and the deepening of time-based competition strategy,the character of seasonal fashion of service/produt is increasing.This paper extends traditional newsboy model with time-based wholesale price and time-based forecasting precision under normally distributed market demanding,discusses the optimal decision about ordering timing and ordering quantity.The mathematics model of newsboy problem with time-based parameter is given,and through analyzing model and numerical instance,it shows,with contrast of traditional newsboy problem that time factor is not taken into account,the former can increase the income of the dealer.