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,...

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Autores principales:	Chun-Chin Wei, Liang-Tu Chen
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	supply chain management inventory management newsvendor multiple period Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/e5e5aade6d4841eea7b965f275828c6b
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spelling	oai:doaj.org-article:e5e5aade6d4841eea7b965f275828c6b2021-11-25T19:04:16ZSupply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle10.3390/su1322127772071-1050https://doaj.org/article/e5e5aade6d4841eea7b965f275828c6b2021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12777https://doaj.org/toc/2071-1050Traditionally, 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.Chun-Chin WeiLiang-Tu ChenMDPI AGarticlesupply chain managementinventory managementnewsvendormultiple periodEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12777, p 12777 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	supply chain management inventory management newsvendor multiple period Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	supply chain management inventory management newsvendor multiple period Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Chun-Chin Wei Liang-Tu Chen Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
description	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.
format	article
author	Chun-Chin Wei Liang-Tu Chen
author_facet	Chun-Chin Wei Liang-Tu Chen
author_sort	Chun-Chin Wei
title	Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
title_short	Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
title_full	Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
title_fullStr	Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
title_full_unstemmed	Supply Chain Replenishment Decision for Newsvendor Products with Multiple Periods and a Short Life Cycle
title_sort	supply chain replenishment decision for newsvendor products with multiple periods and a short life cycle
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/e5e5aade6d4841eea7b965f275828c6b
work_keys_str_mv	AT chunchinwei supplychainreplenishmentdecisionfornewsvendorproductswithmultipleperiodsandashortlifecycle AT liangtuchen supplychainreplenishmentdecisionfornewsvendorproductswithmultipleperiodsandashortlifecycle
_version_	1718410370926772224

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

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