Inventory Model For Perishable Items Research Articles

An Inventory Model for Perishable Items with stock-dependent Demand Rate under Mixed Issuing Policy

In this paper, we investigate retailer's procurement policy of a perishable item that has stock-dependent demand rate. Stock-dependent demand rate implicitly implies that all items in inventory are displayed for sale. In this case, the retailer tends to display sales items such a way that FIFO policy can be enforced, while prudent customers search for freshest items, which results in LIFO policy. Considering the two conflicting aspects commonly observed in the real world, this study assumes that the items are sold by a mixed issuing policy, a weighted combination of LIFO and FIFO. For the system presented, mathematical models are developed with the objective of maximizing the retailer's profit. We examine the sensitivity of the decision variables to changes in the system parameters.

Recursive Estimation of Inventory Quality Classes Using Sampling

In this paper we propose a new discrete time discrete state inventory model for perishable items of a single product. Items in stock are assumed to belong to one of a finite number of quality classes that are ordered in such a way that Class 1 contains the best quality and the last class contains the pre-perishable quality. By the end of each epoch, items in each inventory class either stay in the same class or lose quality and move to a lower class. The movement between classes is not observed. Samples are drawn from the inventory and based on the observations of these samples, optimal estimates for the number of items in each quality classes are derived.

Recursive estimation of inventory quality classes using sampling

In this paper we propose a new discrete time discrete state inventory model for perishable items of a single product. Items in stock are assumed to belong to one of a finite number of quality classes that are ordered in such a way that Class 1 contains the best quality and the last class contains the pre-perishable quality. By the end of each epoch, items in each inventory class either stay in the same class or lose quality and move to a lower class. The movement between classes is not observed. Samples are drawn from the inventory and based on the observations of these samples, optimal estimates for the number of items in each quality classes are derived.

Optimal adaptive estimators for partially observed numbers of defective items in inventory models

In this paper, three discrete time integer-valued inventory models for perishable items are introduced. In these models, each item in the stock is assumed to perish in a given period with some probability. The dynamics of the models are affected by a demand process, a replenishment process, and perishability. However perished items are not observed while in stock, unless sold. Recursive estimates for the probability of the number of the perished items are derived.

A stochastic inventory model with perishable and aging items

In this paper, we propose a single‐product, discrete time inventory model for perishable items. Inventory levels are reviewed periodically and units in stock have a maximum lifetime of M periods. It is assumed that the dynamics of the inventory level is driven by a parameter process (reflecting perishability) and demands. By observing the history of the inventory level we obtain the conditional distribution of the perishability parameter by using the change of measure techniques. A special case is also presented.

EOQ models for perishable items under stock dependent selling rate

This paper presents inventory models for perishable items with stock dependent selling rate. The selling rate is assumed to be a function of current inventory level and rate of deterioration is taken to be constant. Under instantaneous replenishment with zero lead time, the model incorporates aspects such as complete, partial, and no backlogging. EOQ is determined for maximizing the total profit in each of the situations. The models developed are illustrated through numerical examples and sensitivity analysis is reported.

An inventory model for perishable items in a lot-size system with quantity discounts

An inventory model continuous in units and time is developed for perishable items in a lot-size system that allows partially backlogging and partially lost saling. The model is developed under deterministic demand, instantaneous delivery with quantity discounts, and any well-behaved probability distribution for the time to perishables. An example is given to illustrate the model.