An exact analysis on age-based control policies for perishable inventories

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buir.contributor.authorGürler, Ülkü
dc.citation.epage245en_US
dc.citation.issueNumber2en_US
dc.citation.spage221en_US
dc.citation.volumeNumber53en_US
dc.contributor.authorPoormoaied, S.
dc.contributor.authorGürler, Ülkü
dc.contributor.authorBerk, E.
dc.date.accessioned2021-02-19T10:58:27Z
dc.date.available2021-02-19T10:58:27Z
dc.date.issued2020-09-01
dc.departmentDepartment of Industrial Engineeringen_US
dc.description.abstractWe investigate the impact of effective lifetime of items in an age-based control policy for perishable inventories, a so-called (Q, r, T) policy, with positive lead time and fixed lifetime. The exact analysis of this control policy in the presence of a service level constraint is available in the literature under the restriction that the aging process of a batch begins when it is unpacked for consumption, and that at most one order can be outstanding at any time. In this work, we generalize those results to allow for more than one outstanding order and assume that the aging process of a batch starts since the time that it is ordered. Under this aging process, we derive the effective lifetime distribution of batches at the beginning of embedded cycles in an embedded Markov process. We provide the operating characteristic expressions and construct the cost rate function by the renewal reward theorem approach. We develop an exact algorithm by investigating the cost rate and service level constraint structures. The proposed policy considerably dominates its special two-parameter policies, which are time-dependent (Q, T) and stock-dependent (Q, r) policies. Numerical studies demonstrate that the aging process of items significantly influences the inventory policy performance. Moreover, allowing more than one outstanding order in the system reaps considerable cost savings, especially when the lifetime of items is short and the service level is high.en_US
dc.identifier.doi10.1080/24725854.2020.1785649en_US
dc.identifier.issn2472-5854
dc.identifier.urihttp://hdl.handle.net/11693/75490
dc.language.isoEnglishen_US
dc.publisherTaylor and Francisen_US
dc.relation.isversionofhttps://dx.doi.org/10.1080/24725854.2020.1785649en_US
dc.source.titleIISE Transactionsen_US
dc.subjectPerishable inventoriesen_US
dc.subjectAgebased control policyen_US
dc.subjectEffective lifetimeen_US
dc.subjectMultiple outstanding ordersen_US
dc.subjectRenewal reward theoremen_US
dc.titleAn exact analysis on age-based control policies for perishable inventoriesen_US
dc.typeArticleen_US

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