Ordering Policy of Two-Stage Newsvendor Model for Fresh Retailer under RFID Investment

Table 1

The meanings of parameters and symbols.

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: random demand

: probability density function of x

: distribution function of x

: sales period

: lead time without RFID

: time dependence without RFID

: unit procurement price

: unit shortage cost

: unit disposal cost

: unit holding cost

: unit delay cost

: random demand before the second order is reached

: random demand after the second order is reached

: market retail price of fresh product

: second order product arrival time

: lead time with RFID

: time dependence with RFID

: ratio of arrived quantity to the ordering quantity without RFID

: ratio of arrived quantity to the ordering quantity with RFID

: unit RFID cost

: profit of fresh retailer without RFID investment

: profit of fresh retailer with RFID investment

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