Journal ArticleDOI
Perishable Inventory Theory: A Review
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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:Â
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.read more
Citations
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Journal ArticleDOI
Recent trends in modeling of deteriorating inventory
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.
Journal ArticleDOI
Optimal Pricing and Return Policies for Perishable Commodities
TL;DR: It is proven, however, that a pricing and return policy in which a manufacturer offers retailers a partial credit for all unsold goods can achieve channel coordination in a multi-retailer environment.
Journal ArticleDOI
Survey of Literature on Continuously Deteriorating Inventory Models
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.
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An optimization approach for managing fresh food quality throughout the supply chain
TL;DR: In this paper, the authors provide a methodology to model food quality degradation in such a way that it can be integrated in a mixed-integer linear programming model used for production and distribution planning.
Journal ArticleDOI
Review of inventory systems with deterioration since 2001
TL;DR: In this paper, the authors present an up-to-date review of the advances made in the field of inventory control of perishable items (deteriorating inventory) and use the classification of Goyal and Giri based on shelf life characteristics and demand characteristics.
References
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Journal ArticleDOI
Dynamic Version of the Economic Lot Size Model
Harvey M. Wagner,T. M. Whitin +1 more
TL;DR: Disjoint planning horizons are shown to be possible which eliminate the necessity of having data for the full N periods and desire a minimum total cost inventory management scheme which satisfies known demand in every period.
Journal ArticleDOI
An EOQ Model for Items with Weibull Distribution Deterioration
TL;DR: In this paper, an inventory model is considered for deteriorating items with a variable rate of deterioration, where deterioration means decay, damage or spoilage such that the item cannot be used for its original purpose.
Book
Studies in the Mathematical Theory of Inventory and Production
TL;DR: The Assessment Division of The Applied Physics Laboratory has undertaken new responsibilities and is expanding its Senior Analytical Staff as discussed by the authors, which will provide guide lines for the hardware research of future years, including analyses of tactical situations, the employment of future weapon systems and the application of the most recent advances in science and technology.
Journal ArticleDOI
Optimal Policy for a Multi-Product, Dynamic, Nonstationary Inventory Problem
TL;DR: In this paper, a multi-product dynamic non-stationary inventory problem is considered, where the system is reviewed at the beginning of each of a sequence of periods of equal length.