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Due to rapid development of manufacturing and online retail, the life cycle of many products is becoming shorter and shorter. Hence, manufacturers may launch new products in selling season to maintain market share and attract new customers. Under these circumstances, manufacturers may release a presale information before the selling season, and the retailer correspondingly makes a preorder according to the estimation to the demand. For the case that the wholesale price rises gradually with time during the preselling period and the market demand is stochastic, based on minimizing the legacy loss via CVaR measure in risk management, we establish a loss-averse newsvendor’s preordering decision model. By model analysis, we establish the closed form solution to the model and provide the optimal preordering time and preordering quantity to the retailer. Some numerical experiments are made to show the validity of the model, and some managerial insights are explored through the numerical experiments.

On the Preorder Strategy for Loss-Averse Newsvendor Model under CVaR Measure