【Speaker】：Prof. Jin-Feng Yue（Professor of Middle Tennessee State University, Dean of School of Information Management and Engineering, Shanghai University of Finance and Economics）

【Title】：Distribution Free Newsvendor Problem and its Applications

【Time】：3:00pm-5:30pm, Jun 11, 2015

【Location】：6th floor, Main Building

【About Report】：
　　This research extends previous work on the distribution-free newsvendor problem, where only partial information about the demand distribution is available. More specifically, the analysis assumes that the demand distribution f belongs to a class of probability distribution functions (pdf) F with mean μ and standard deviation σ. While previous work has examined the expected value of distribution information (EVDI) for a particular order quantity and a particular pdf f, this paper aims at computing the maximum EVDI over all f ∈ F for any order quantity. In addition, an optimization procedure is provided to calculate the order quantity that minimizes the maximum EVDI.

【About Speaker】：
　　Jin-Feng Yue gained a PhD in Decision Sciences of Washington State University. He is the professor of Middle Tennessee State University, and Dean of School of Information Management and Engineering, Shanghai University of Finance and Economics. He conducts researches in the area of Management Science. His interests focus on inventory control, supply chain management, and optimization and application. He has published papers in famous journals such as Operations Research, and Production and Operations Management.