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Optimal Ordering Policies for Perishable Inventory—II
Abstract
This paper deals with the problem of computing optimal ordering policies for a single product with a lifetime of exactly m periods. Costs are charged against ordering, holding, shortages, and out-dating. To take explicit account of the perishability, we substitute a cost to be incurred at the time of outdating. The functional equation approach of dynamic programming is used to extend this model to the multiperiod case, and the structure of optimal ordering policies is analyzed.
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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
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
- Nahmias, S.
- Venue
- Operations Research
- Published
- 1975-08
- Volume
- 23
- Issue
- 4
- Pages
- 735-749
- ISSN
- 0030-364X (ISSN-L)
- 1526-5463
- OpenAlex
- W2044182095
- Cited by
- 290
- References
- 0
- FWCI
- 15.32
- Type
- journal article
- Language
- en
- Open access
- closed
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- Nahmias, S. (1975). Optimal Ordering Policies for Perishable Inventory—II. Operations Research. https://doi.org/10.1287/opre.23.4.735
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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.
