Saturday, November 12, 2022

Across time and space: Psychological distance and inventory decision making

In operations management, there's a well-known model called the newsvendor problem. Based on the classic scenario of a paper carrier deciding how many papers to try to sell each day, the newsvendor problem illustrates the challenge of determining supply in advance of knowing demand.

source https://www.lifetechnology.com/blogs/life-technology-science-news/across-time-and-space-psychological-distance-and-inventory-decision-making