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Volume 28, Issue 2
The Budget Constrained Multi-Product Newsboy Problem with Reactive Production: A Problem from Entrepreneurial Network Construction

Wenjin Li & Yanni Pang

Commun. Math. Res., 28 (2012), pp. 97-107.

Published online: 2021-05

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  • Abstract

This paper develops an extended newsboy model and presents a formulation for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solution. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.

  • Keywords

newsboy problem, entrepreneurial network, construction, multi-product, budget constrained, reactive production, homotopy method.

  • AMS Subject Headings

91F20, 78M50

  • Copyright

COPYRIGHT: © Global Science Press

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  • TXT
@Article{CMR-28-97, author = {Li , Wenjin and Pang , Yanni}, title = {The Budget Constrained Multi-Product Newsboy Problem with Reactive Production: A Problem from Entrepreneurial Network Construction}, journal = {Communications in Mathematical Research }, year = {2021}, volume = {28}, number = {2}, pages = {97--107}, abstract = {

This paper develops an extended newsboy model and presents a formulation for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solution. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.

}, issn = {2707-8523}, doi = {https://doi.org/}, url = {http://global-sci.org/intro/article_detail/cmr/19052.html} }
TY - JOUR T1 - The Budget Constrained Multi-Product Newsboy Problem with Reactive Production: A Problem from Entrepreneurial Network Construction AU - Li , Wenjin AU - Pang , Yanni JO - Communications in Mathematical Research VL - 2 SP - 97 EP - 107 PY - 2021 DA - 2021/05 SN - 28 DO - http://doi.org/ UR - https://global-sci.org/intro/article_detail/cmr/19052.html KW - newsboy problem, entrepreneurial network, construction, multi-product, budget constrained, reactive production, homotopy method. AB -

This paper develops an extended newsboy model and presents a formulation for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solution. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.

Li , Wenjin and Pang , Yanni. (2021). The Budget Constrained Multi-Product Newsboy Problem with Reactive Production: A Problem from Entrepreneurial Network Construction. Communications in Mathematical Research . 28 (2). 97-107. doi:
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