Inventory Management for Retail — Periodic Review Policy

Inventory Management for Retail — Periodic Review Policy

Implement inventory management rules based on a periodic review policy to reduce the number of stores replenishments

Periodic Review Inventory Policy with a Stochastic Demand — (Image by Author)

Objective

Design inventory management rules that minimize the number of replenishments and meet stores demand.

Introduction

For most retailers, inventory management systems take a fixed, rule-based approach to forecast and replenishment orders management.

The objective is to build a replenishment policy …

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