A continuous review perishable system with renewal demands

A continuous review perishable system with renewal demands

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Article ID: iaor200734
Country: Netherlands
Volume: 143
Issue: 1
Start Page Number: 211
End Page Number: 225
Publication Date: Mar 2006
Journal: Annals of Operations Research
Authors: ,
Keywords: deteriorating items
Abstract:

This paper analyzes a lost sales (s, S) type perishable inventory system with varying ordering quantity under renewal demands. The items have constant hazard rates and the mean rate of replenishment is dependent on the order size. The techniques of semi-regenerative processes are applied to obtain the various operating characteristics. Cost optimization, which includes sensitivity analysis of various system parameters, is also discussed with numerical illustrations.

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