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Study on the optimal ordering strategy of Short Lifecycle Products based on stochastic demand

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3 Author(s)
Lingbing Hu ; School of Management, Tianjin University, TJU, China ; Baoyin Zhang ; Jie Zhang

For the characteristic of short storage life and quick value decay for Short Lifecycle Products (SLPs), it is supposed that suppliers provide Quantity Discount Pricing (QDP), lead time and demand rate comply with stochastic normal distributions, and stock-outs are permitted. And the optimal ordering models of SLPs were developed for discrete and continuous stochastic demand. Then the arguments analysis received the important reference results. In addition the algorithm procedure and numerical value example were provided to figure out the optimal order quantity and safe stock.

Published in:

Management Science and Industrial Engineering (MSIE), 2011 International Conference on

Date of Conference:

8-11 Jan. 2011