Age dependent perishability in two-echelon serial inventory systems
Computers and Operations Research
Near myopic heuristics for the fixed-life perishability problem
Management Science
Economic order quantity of deteriorating items under permissible delay in payments
Computers and Operations Research
Supply chain models for perishable products under inflation and permissible delay in payment
Computers and Operations Research
Simulation Modeling and Analysis
Simulation Modeling and Analysis
Pathwise Properties and Performance Bounds for a Perishable Inventory System
Operations Research
Computers and Industrial Engineering
Optimal issuing of perishables with a short fixed shelf life
ICCL'11 Proceedings of the Second international conference on Computational logistics
Inventory management with log-normal demand per unit time
Computers and Operations Research
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So far the literature on inventory control for perishable products has mainly focused on (near-) optimal replenishment policies for a stylized environment, assuming no lead-time, no lot-sizing, stationary demand, a first in first out withdrawal policy and/or product life time equal to two periods. This literature has given fundamental insight in the behavior and the complexity of inventory systems for perishable products. In practice, many grocery retailers have recently automated the inventory replenishment for non-perishable products. They recognize they may need a different replenishment logic for perishable products, which takes into account e.g. the age of the inventory in the system. Due to new information technologies like RFID, it now also becomes more economically feasible to register this type of information. This paper suggests a replenishment policy for perishable products which takes into account the age of inventories and which requires only very simple calculations. It will be shown that in an environment, which contains important features of the real-life retail environment, this new policy leads to substantial cost reductions compared with a base policy that does not take into account the age of inventories.