An Inventory Control Policy for Time Varying Demand by Using Heuristics Models: a Case Study in Bangladesh

This paper derives the impacts of early order commitments on the performance of many inventory policies used by retailers in a supply chain. Model parameters and operating conditions are emulated from a local business, supplying a standard product to its retailers. The purpose of this research work is to justify the two renowned heuristic models (Wagner Whitin algorithm and Silver–Meal heuristic) under time varying demand situation. For making this work worthy and acceptable a practical demonstration was also carried out with impetuous efforts. The authors can claim that with this justification the manufacturers especially for Bangladesh, could get a better outline regarding their inventory control policies moreover strengthening the overall supply chain performance.