A disaster inventory system is considered in which two substitutable items are stored for disaster management. In the event of disaster management, a particular product may become stock-out and the situation warrants that a demand for the particular product during its stock-out period may be substituted with another available similar product in the inventory. From the utility point of view, con...

We present a two-commodity perishable stochastic inventory system under continuous review at a service facility with a finite waiting room. The maximum storage capacity for the i–th item is fixed as Si (i = 1, 2). We assume that a demand for the i–th commodity is of unit size. The arrival instants of customers to the service station constitutes a Poisson process with parameter λ. The customer d...

With the development of product development technology and the rapid rise of online retailing, the market competition becomes increasingly fierce. Based on consumer utility function, this article established a two-stage dynamic pricing model and discussed pricing strategies under consumer behavior and market competition. Findings indicate that product quality difference and consumer valuation d...

This concept paper summarizes key “hotspots” for waste generation along the food supply chain and identifies a range of existing solutions/measures that can help producers, retailers and consumers reduce the amount of food that is wasted. The majority of food waste of 71–92 kg/head/year in Western Europe was found to originate from private households (61%), followed by restaurants and canteens ...

A durable good is a long-lasting good that can be consumed repeatedly over time, and a duropolist is a monopolist in the market of a durable good. Theoretically, less is known about durable goods than their more well-studied counterparts, consumable and perishable goods. It was quite startling, therefore, when Ronald Coase (1972) conjectured that a duropolist has no monopoly power at all! Speci...

The present work deals with the supply chain problems related to perishable products. The EOQ model has been used to analyze the data collected and suggest a ordering policy that will minimize the loses and maximize the organizational value. The work provides a suggestion for managers to take decision regarding use of self space and reordering of items depending on the inventory usage.

This article reviews the literatures of revenue management and introduces the status of traditional research about perishable products in this field. We analyze revenue management considering strategic customer behavior and the related researches about dynamic pricing, finally we discuss the existing problems and suggest several future research directions.