Inventory replenishment in fashion products: a novel approach based on fuzzy-logic methodology

Henry C.W. Lau, Dilupa Nakandala and Li Zhao

International Journal of Manufacturing Technology and Management, 2015, vol. 29, issue 1/2, 96-115

Abstract: Fashion products retailers are facing the problem of balancing supply and demand efficiently. However, owing to the highly unpredictable demand, it is often too difficult for retailers to make inventory replenishment decisions. This paper provides a fuzzy-based inventory replenishment approach for fashion retailers. By using available information on current demand and stock, and expert judgements of inventory replenishment, the fuzzy-based approach is able to deal with the fuzziness of the data and suggest an optimal inventory replenishment action that needs to be taken immediately. Unlike those highly mathematical and complex models already published in various journals, this approach is more practical and applicable for retailers to incorporate in their daily operations.

Keywords: inventory replenishment; fuzzy logic; fashion products; fuzzification; fashion retailers; fashion industry. (search for similar items in EconPapers)
Date: 2015
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