Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle

Traditionally, the newsvendor problem is a single-period model for a retailer and can be applied in the replenishment decision for a product with a short life cycle. However, many fashionable commodities are seasonal; not all of these products must be sold within a single period of a selling season,...

Descripción completa

Guardado en:
Detalles Bibliográficos
Autores principales: Chun-Chin Wei, Liang-Tu Chen
Formato: article
Lenguaje:EN
Publicado: MDPI AG 2021
Materias:
Acceso en línea:https://doaj.org/article/e5e5aade6d4841eea7b965f275828c6b
Etiquetas: Agregar Etiqueta
Sin Etiquetas, Sea el primero en etiquetar este registro!
Descripción
Sumario:Traditionally, the newsvendor problem is a single-period model for a retailer and can be applied in the replenishment decision for a product with a short life cycle. However, many fashionable commodities are seasonal; not all of these products must be sold within a single period of a selling season, and they can be replenished once in each cycle. This study develops a novel multi-period model to determine multiple ordering replenishment decisions for a product over a short selling season. This study not only demonstrates the profit function for a retailer, but also provides those for both the manufacturer and the entire channel in a supply chain problem. The proposed multi-period ordering model provides explicit insights into how the ordering decisions of the retailer are affected in a specific period by considering unsold inventory or unsatisfied demand from a previous period. A numerical analysis and the simulation results illustrate the feasibility of the proposed model.