Extended Models of Newsvendor Problem

The newsvendor problem is a single period problem(SPP),which studies how many products to be ordered for the retail merchants to obtain the maximum expected profit in the face of stochastic demand.It is an interesting research problem.This article summarizes the research results on the newsvendor problem in the past ten years and delineates the contribution of different objectives.It also provides a new classification on the extended models of newsvendor problem,such as extensions with decision making objectives,extensions with the retailers,extensions with the market pattern,extensions with the supplier and other extensions.