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Case Studies | Mathematics | Indonesia | Volume 5 Issue 3, March 2016 | Rating: 6.1 / 10
Stochastic Model for Magazine Retailer Problem
Endang Julivia Pakpahan, Roland T. H Siagian, Sari Dewi Nasution
Abstract: In this paper magazine retailer model extensions are developed. These two extensions allow modelling of the situations where there are certain percentage of customers who are willing to wait for the next regular order. The first model assumes that it is possible to identify customers who are willing to wait for the next regular order at the beginning of planning period, while the second model assumes back order option at time when stock out occurs.
Keywords: Inventory, Magazine Retailer Model, Stochastic Model
Edition: Volume 5 Issue 3, March 2016,
Pages: 744 - 746