Conceptual

Newsboy Problem
This refer to the problem of determining the optimum level of inventory to maintain for any quickly perishable product.
If too much of perishable product is started as inventory it could cause unnecessary losses due to lack of sales.
On the other and if too little of its stored as inventory it could lead to loss of potential sales.
The NEWSBOY PROBLEM is named after the common issue faced by vendor selling newspaper news when does needed to make quickly decision about inventory level as the demand for newspaper fluctuates daily and consumer generally have no use for a newspaper beyond a day.