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Optimal Ordering Policy for a Perishable Commodity with Fixed Lifetime
Abstract
This paper extends the classical single-item, multiperiod inventory model of Arrow, Karlin, and Scarf to the case where a good in storage perishes exactly l periods after its receipt on order. Units are followed from the time they are purchased and enter the inventory until they are either issued or perish. For general l the paper obtains the optimal policy recursively and derives several properties of the solution.
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Citations
Cited by
Survey of Literature on Continuously Deteriorating Inventory Models
Raafat, F. (1991) · Journal of the Operational Research Society · doi:10.1057/jors.1991.4 · Cited by 802
Managing Perishable and Aging Inventories: Review and Future Research Directions
Karaesmen, I. Z., Scheller–Wolf, A., & Deniz, B. (2011) · International Series in Operations Research & Management Science · doi:10.1007/978-1-4419-6485-4_15 · Cited by 347
Improved ordering of perishables: The value of stock-age information
Haijema, R., & Minner, S. (2019) · International Journal of Production Economics · doi:10.1016/j.ijpe.2018.03.008 · Cited by 70
The economic lot-sizing problem with perishable items and consumption order preference
Önal, M., Romeijn, H. E., Sapra, A., & van den Heuvel, W. (2015) · European Journal of Operational Research · doi:10.1016/j.ejor.2015.02.021 · Cited by 47
Analysis of an order-up-to-level policy for perishables with random issuing
Lowalekar, H., Nilakantan, R., & Ravichandran, N. (2016) · Journal of the Operational Research Society · doi:10.1057/jors.2015.59 · Cited by 17
Metadata
- Authors
- Fries, B. E.
- Venue
- Operations Research
- Published
- 1975-02
- Volume
- 23
- Issue
- 1
- Pages
- 46-61
- ISSN
- 0030-364X (ISSN-L)
- 1526-5463
- OpenAlex
- W2015553151
- Cited by
- 266
- References
- 0
- FWCI
- 14.23
- Type
- journal article
- Language
- en
- Open access
- closed
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- Fries, B. E. (1975). Optimal Ordering Policy for a Perishable Commodity with Fixed Lifetime. Operations Research. https://doi.org/10.1287/opre.23.1.46
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
