Age-based vs. stock level control policies for a perishable inventory system

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dc.citation.epage329en_US
dc.citation.issueNumber2en_US
dc.citation.spage309en_US
dc.citation.volumeNumber134en_US
dc.contributor.authorTekin, E.en_US
dc.contributor.authorGürler Ü.en_US
dc.contributor.authorBerk, E.en_US
dc.date.accessioned2016-02-08T10:34:28Z
dc.date.available2016-02-08T10:34:28Z
dc.date.issued2001en_US
dc.departmentDepartment of Industrial Engineeringen_US
dc.departmentDepartment of Managementen_US
dc.description.abstractIn this study, we investigate the impact of modified lotsize-reorder control policy for perishables which bases replenishment decisions on both the inventory level and the remaining lifetimes of items in stock. We derive the expressions for the key operating characteristics of a lost sales perishable inventory model, operating under the proposed age-based policy, and examine the sensitivity of the optimal policy parameters with respect to various system parameters. We compare the performance of the suggested policy to that of the classical (Q,r) type policy through a numerical study over a wide range of system parameters. Our findings indicate that the age-based policy is superior to the stock level policy for slow moving perishable inventory systems with high service levels.en_US
dc.identifier.doi10.1016/S0377-2217(00)00250-2en_US
dc.identifier.eissn1872-6860
dc.identifier.issn0377-2217
dc.identifier.urihttp://hdl.handle.net/11693/24797
dc.language.isoEnglishen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/S0377-2217(00)00250-2en_US
dc.source.titleEuropean Journal of Operational Researchen_US
dc.subjectInventoryen_US
dc.subjectLost salesen_US
dc.subjectPerishableen_US
dc.subjectComputational methodsen_US
dc.subjectDecision makingen_US
dc.subjectDecision theoryen_US
dc.subjectInventory controlen_US
dc.subjectPurchasingen_US
dc.subjectResource allocationen_US
dc.subjectSensitivity analysisen_US
dc.subjectStrategic planningen_US
dc.subjectModified lotsize-reorder control policyen_US
dc.subjectPerishable inventory systemsen_US
dc.subjectOperations researchen_US
dc.titleAge-based vs. stock level control policies for a perishable inventory systemen_US
dc.typeArticleen_US

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