A Retail Inventory Policy for Time-dependent Cyclical Demand
Type
conference paper
Date Issued
2011-11-13
Author(s)
Abstract
Fast-moving retail items follow a cyclical demand pattern depending on timing and marketing efforts. In our research, we observe the occurrence of intraday sales patterns. We therefore model an inventory policy accounting for intraday sales patterns by refitting the review period. We include lost sales, inventory holding and handling costs, and marketing efforts. Using actual transaction data, we compare this new policy to current practice, evaluating effects on customer service and total cost.
Language
English
Keywords
Retail operations management
inventory management
time-dependent demand
HSG Classification
contribution to scientific community
Refereed
Yes
Book title
Transformation
Publisher
INFORMS
Publisher place
Hanover MD
Start page
1
Event Title
INFORMS Annual Meeting 2011
Event Location
Charlotte, NA
Event Date
13.-16.11.2011
Subject(s)
Division(s)
Eprints ID
96124