Abstract
Abstract In this paper, we consider a perishable inventory control model under an ( r,Q ) review policy, i.e. at every unit time, the inventory position is monitored and a replenishment of size Q is made if the inventory position hits r. The lifetime of products and the lead time are an integral number of the unit time. We derive approximate expressions of the key operating characteristics of the inventory system (such as the expected quantity of perished products, the expected shortage and the expected inventory level) and obtain a closed form expression of the average total cost per unit time. The effectiveness of approximations is tested by a simulation experiment implemented in Arena software. A numerical analysis is developed to illustrate the advantages of using the proposed policy compared to the classical ( r,Q ) policy which ignores the perishability of products.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
