This paper studies a multi-item dynamic lot size problem for perishable products where stock deterioration rates and inventory costs are age-dependent. We explore structural properties in an optimal solution under two cost structures and develop a dynamic programming algorithm to solve the problem in polynomial time when the number of products is fixed. We establish forecast horizon results tha...

Essential oils are volatile, natural, complex compounds characterized by a strong odour and are formed by aromatic plants as secondary metabolites. EOs or ethereal oils are also aromatic oily liquids obtained by steam or hydro-distillation from plant materials such as flowers, buds, seeds, leaves, twigs, bark, herbs, wood, fruits and roots. An estimated 3000 EOs are known, of which about 300 ar...

This paper studies optimal pricing policies for a family of substitute perishable products with demand correlation. Potential buyers arrive according to an exogenous stochastic Poisson process. At each demand epoch, the arriving customer observes the set of substitute products for which there is still inventory available together with their corresponding prices. Based on this information, the c...

Two stages of halal food distribution model for perishable products are a mixed integer linear program (MILP) proposed to solve the problem food, especially products. The can simultaneously minimize overstock, shortage, transportation, and deterioration costs. is developed into two stages. first stage location-allocation determine cluster number suppliers in each cluster. second vehicle routing...

This paper deals with a periodic-review substitutable inventory system for a finite and an infinite number of periods. Here an upward substitution structure, a substitution of a more costly item by a less costly one, is assumed, with two products. At the beginning of each period, a stochastic demand comes for the first item only, which is quality-wise better and hence costlier. Whenever an arri...

Dynamic pricing is a standard practice that sellers use for revenue management. With the vast availability of pricing and inventory data on the Internet, it is possible for consumers to become aware of the pricing strategies used by sellers and to develop strategic responses. In this paper, we study the strategic response of consumers to dynamic prices for perishable products. As price fluctuat...