Age-based vs. stock level control policies for a perishable inventory system |
| |
| Institution: | 1. Department of Industrial Engineering and Management Science, Northwestern University, Evanston, IL 60208-3119, USA;2. Department of Industrial Engineering, Bilkent University, 06533 Ankara, Turkey;3. Faculty of Business Administration, Bilkent University, 06533 Ankara, Turkey;1. Department of Industrial Design, Zhejiang University City College, Hangzhou 310015, China;2. Key Laboratory of Advanced Manufacturing Technology of Zhejiang Province, College of Mechanical Engineering, Zhejiang University, Hangzhou 310027, China;3. Graduate School of Management, the Business School, University of Auckland, Auckland 1142, New Zealand;4. Department of Mechanical Engineering, University of Auckland, Auckland 1142, New Zealand;1. Operations Research and Logistics, Wageningen University, Hollandseweg 1, 6706 KN Wageningen, The Netherlands;2. Logistics and Supply Chain Management, Technische Universität München, TUM School of Management, Arcisstr. 21, 80333 Munich, Germany;1. Montpellier Business School/Montpellier Research in Management, France;2. Laboratoire Génie Industriel, Ecole Centrale Paris, France;1. Department of Materials and Production, Aalborg University, Fibigerstræde 16, 9220, Aalborg Ø, Denmark;2. Department of Maritime Operations, Campus Vestfold, University of South-Eastern Norway, Norway;1. Peter F. Drucker and Masatoshi Ito Graduate School of Management, Claremont Graduate University, Claremont, CA, 91711, USA;2. Department of Information and Operations Management, Texas A & M University, College Station, TX, USA;3. Department of Agricultural Economics, Texas A & M University, College Station, TX, USA |
| |
| Abstract: | In this study, we investigate the impact of modified lotsize-reorder control policy for perishables which bases replenishment decisions on both the inventory level and the remaining lifetimes of items in stock. We derive the expressions for the key operating characteristics of a lost sales perishable inventory model, operating under the proposed age-based policy, and examine the sensitivity of the optimal policy parameters with respect to various system parameters. We compare the performance of the suggested policy to that of the classical (Q,r) type policy through a numerical study over a wide range of system parameters. Our findings indicate that the age-based policy is superior to the stock level policy for slow moving perishable inventory systems with high service levels. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
