We consider a repeated newsvendor problem where the inventory manager has no prior information about thedemand, and can access only censored/sales data. In analogy tomultiarmed bandit problems, the manager needs to simultaneously “explore” and “exploit” with her inventory decisions, in order to minimize the cumulative cost. We make no probabilistic assumptions—importantly, independence or time ...

We study stochastic inventory planning with lost sales, where contrary to classical inventory theory, the knowledge of the demand distribution is not available a priori. While the manager observes the sales quantities in each period, lost sales are unobservable, i.e., demand data is censored. The decision in each period depends only on historical sales data. Excess inventory is either perishabl...

Inventory control in perishable products supply chain is one of the biggest challenges today, especially for medicines and blood products supply chain. Shortage can increase the mortality risk at hospitals, on the contrary, high levels of inventory could generate wastage of these resources. This paper studies the problem of inventory control and distribution of blood products. This study determ...

Abstract Supply and distribution management of blood products is a challenging task due to their short lifespan. The problem even more sophisticated considering uncertain demand for these products. This paper addresses integrated inventory-routing in supply chain network consisting single supplier group centers. Transshipment among centers allowed decrease the cost excess inventory shortage goo...

We study stochastic inventory planning with lost sales and instantaneous replenishment, where contrary to the classical inventory theory, the knowledge of the demand distribution is not available. Furthermore, we observe only the sales quantity in each period, and lost sales are unobservable, that is, demand data are censored. The manager must make an ordering decision in each period based only...

Abstract: We consider a perishable inventory system with bonus service for certain customers, wherein the demand of a customer is satisfied only after performing some service on the item which is assumed to be of random duration. The maximum inventory level is S . The ordering policy is (0,S ) policy and the lead time is zero. The life time of each items is assumed to be exponential.The custome...

This paper presents the analysis of a continuous review perishable inventory system wherein the life time of each item follows an exponential distribution. The operating policy is (s,S) policy where the ordered items are received after a random time which follows exponential distribution. Primary arrival follows Poisson distribution and they may turnout to be posit...

In this paper, we propose a new mathematical model for Capacitated Inventory Routing Problem (CIRP), which considers freshly delivery of perishable products to the customers’ location; otherwise, a reduction in products’ demand may occur. Therefore, we attempt to plan delivering process of products at the right time to avoid extra inventory causing increase in age of products. This ...