Optimal Ordering Policy for Seasonal Products/ Newly Launched Fashion Items under Periodic Review
We investigate several characteristics that are expected to be connected with various forms of inventory, such as seasonal product inventories, newly introduced fashion items, electronic goods, mobile phones, and so on. With a ramp type demand rate, a periodic review inventory model is created. When the inventory on hand reaches zero, the inventory manager provides a discount to customers who are willing to backorder. The optimum ordering policy and the best discount offered for each backorder can be found by lowering the overall cost in a replenishment interval.
Author (s) Details
Dr. Sujan Chandra
Department of Statistics, Bethune College, Kolkata, India.
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