Optimal inventory policies for perishable items with time-dependent demand

Optimal inventory policies for perishable items with time-dependent demand

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Article ID: iaor1998580
Country: Netherlands
Volume: 50
Issue: 1
Start Page Number: 35
End Page Number: 41
Publication Date: May 1997
Journal: International Journal of Production Economics
Authors:
Keywords: economic order, deteriorating items
Abstract:

This paper presents two computationally efficient solution methods that determine the optimal replenishment schedules for exponentially deteriorating items and perishable products with fixed lifetime. For both models, the inventoried items have general continuous-time-dependent demand. The models are formulated under the assumption of discrete opportunities for replenishment over a fixed planning horizon. Numerical examples are included to illustrate the models.

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