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.