Determining Discounts For Perishable Inventory

Managing Perishable Inventory

This article discusses inventory management of perishable items, including the differences between inventory models that consider items’ perishability and the standard models that ignore this issue. We hope that this article will help fostering the interest of students and researchers in inventory control of perishable items, and ultimately help improving the inventory control of perishable ite...

Essays on Perishable Inventory Management

My dissertation addresses a number of challenges in perishable inventory management in supply chains, providing both theoretical results and managerial insights. Essay 1: In this essay, we review the literature on supply chain management of perishable products that have a fixed or random lifetime, primarily focusing on challenges introduced by aging of such products. We start with a review of t...

Approximation Algorithms for Perishable Inventory Systems

We develop the first approximation algorithms with worst-case performance guarantees for periodic-review perishable inventory systems with general product lifetime, for both backlogging and lost-sales models. The demand process can be non-stationary and correlated over time, capturing such features as demand seasonality and forecast updates. The optimal control policy for such systems is notori...

Actuarial Valuation of Perishable Inventory Systems

Limit Distribution of Inventory Level of Perishable Inventory Model

This paper studies a perishable inventory model, which assumes that each perishable item has finite lifetime, and only one item is consumed each time. The lifetimes of perishable items are independent random variables with the general distribution and so are the consumption internal. Under this assumption, by using backward equations and limit distribution of Markov skeleton processes, this pap...