Optimal replenishment policy for product with season pattern demand

Authors:
Peng Sheng You
Affiliations:
Graduate Institute of Transportation & Logistics, National Chia-Yi University, 300 Shiue-Fu Road, Chia-Yi600, Taiwan
Venue:
Operations Research Letters
Year:
2005

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Abstract

This paper investigates a deterministic inventory model in which demand follows a seasonal pattern that repeats itself after a short time interval. An algorithm is developed for determining an optimal replenishment cycle, a shortage length and an order quantity such that the total profit per unit time is maximized.