Literature review of deteriorating inventory models by key topics from 2012 to 2015
TL;DR: An up-to-date review of perishable inventory models, but also of the joint key topics of publications from January 2012 until December 2015 in the research area of deteriorating inventory models is given.
About: This article is published in International Journal of Production Economics.The article was published on 2016-12-01 and is currently open access. It has received 206 citations till now.
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TL;DR: In this paper, the authors investigate the effects of carbon emission reduction on a supply chain with one manufacturer and two competing retailers for deteriorating products under vendor-managed inventory (VMI), which has not been fully studied in the existing literature.
143 citations
TL;DR: In this article, the authors present a review of recent literature on the concepts, product categories, causes, solutions, and research challenges surrounding food loss and waste management, focusing on the United Nations Sustainable Development Goal number 12: sustainable consumption and production.
121 citations
TL;DR: In this article, the authors considered a two-echelon supply chain model for deteriorating items in which the retailer's warehouse capacity of display area is limited, and the retailer stores remaining units in the back room which has unlimited capacity.
85 citations
TL;DR: The changes in the estimated remaining shelf life can be matched with the expected remaining transportation time, and so the critical moment can be avoided with a given probability.
79 citations
TL;DR: This paper analytically shows the existence and uniqueness of the optimal replenishment schedule, price or preservation investment for any given two of them in two cases, and proves that there exists a global replenishment policy forAny given pricing and preservation investment policies.
Abstract: This paper studies a joint pricing, replenishment and preservation technology investment problem for non-instantaneous deteriorating items. Preservation technology affects both the length of non-deterioration period and deterioration rate. Shortages are allowed and partially backlogged. We use price-dependent demand, time-varying deterioration and waiting-time-dependent backlog rates in a general framework to formulate the model. We consider two cases: shortages happen after or before the non-deterioration period. We analytically show the existence and uniqueness of the optimal replenishment schedule, price or preservation investment for any given two of them in two cases. We also prove that there exists a global replenishment policy for any given pricing and preservation investment policies. We then provide an iterative algorithm to search for the optimal solution. Finally, we use numerical examples to illustrate the algorithm, and conduct sensitivity analysis to derive more managerial insights.
79 citations
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TL;DR: A new discussion of the complex branches of W, an asymptotic expansion valid for all branches, an efficient numerical procedure for evaluating the function to arbitrary precision, and a method for the symbolic integration of expressions containing W are presented.
Abstract: The LambertW function is defined to be the multivalued inverse of the functionw →we
w
. It has many applications in pure and applied mathematics, some of which are briefly described here. We present a new discussion of the complex branches ofW, an asymptotic expansion valid for all branches, an efficient numerical procedure for evaluating the function to arbitrary precision, and a method for the symbolic integration of expressions containingW.
5,591 citations
27 Jun 2011
TL;DR: This textbook provides a first course in stochastic programming suitable for students with a basic knowledge of linear programming, elementary analysis, and probability to help students develop an intuition on how to model uncertainty into mathematical problems.
Abstract: The aim of stochastic programming is to find optimal decisions in problems which involve uncertain data. This field is currently developing rapidly with contributions from many disciplines including operations research, mathematics, and probability. At the same time, it is now being applied in a wide variety of subjects ranging from agriculture to financial planning and from industrial engineering to computer networks. This textbook provides a first course in stochastic programming suitable for students with a basic knowledge of linear programming, elementary analysis, and probability. The authors aim to present a broad overview of the main themes and methods of the subject. Its prime goal is to help students develop an intuition on how to model uncertainty into mathematical problems, what uncertainty changes bring to the decision process, and what techniques help to manage uncertainty in solving the problems.In this extensively updated new edition there is more material on methods and examples including several new approaches for discrete variables, new results on risk measures in modeling and Monte Carlo sampling methods, a new chapter on relationships to other methods including approximate dynamic programming, robust optimization and online methods.The book is highly illustrated with chapter summaries and many examples and exercises. Students, researchers and practitioners in operations research and the optimization area will find it particularly of interest. Review of First Edition:"The discussion on modeling issues, the large number of examples used to illustrate the material, and the breadth of the coverage make'Introduction to Stochastic Programming' an ideal textbook for the area." (Interfaces, 1998)
5,398 citations
TL;DR: The motivations, extensions and generalizations of various models in each sub-class have been discussed in brief to bring out pertinent information regarding model developments in the last decade.
1,247 citations
TL;DR: This paper reviews the relevant literature on the problem of determining suitable ordering policies for both fixed life perishable inventory, and inventory subject to continuous exponential decay and considers both deterministic and stochastic demand for single and multiple products.
Abstract: This paper reviews the relevant literature on the problem of determining suitable ordering policies for both fixed life perishable inventory, and inventory subject to continuous exponential decay. We consider both deterministic and stochastic demand for single and multiple products. Both optimal and sub-optimal order policies are discussed. In addition, a brief review of the application of these models to blood bank management is included. The review concludes with a discussion of some of the interesting open research questions in the area.
1,115 citations
TL;DR: A complete and up-to-date survey of published inventory literature for the deteriorating (decaying) inventory models and a classification scheme is presented along with suggestions for future research.
Abstract: This paper presents a complete and up-to-date survey of published inventory literature for the deteriorating (decaying) inventory models. More specifically, those papers are addressed that consider the effect of deterioration as a function of the on-hand level of inventory. The basic features, extensions and generalization of various models are discussed. A classification scheme is presented along with suggestions for future research.
812 citations