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Author: Borga Deniz
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Borga Deniz
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Jaehyuck Park
Publisher:
ISBN:
Category :
Languages : en
Pages :
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This dissertation considers a retailer that sells a perishable product over an infinite time horizon whose quality deteriorates over time. The retailer jointly decides whether to issue the oldest (First-In-First-Out or FIFO) or newest (Last-In-First-Out or LIFO) stock first to consumers and when to remove unsold items from shelf to maximize the objective which is a linear combination of the long-run average profits and customer welfare. We show that contrary to the industry norm that issuing items according to the FIFO issuance while keeping inventory as long as possible is optimal, using the LIFO issuance and pulling inventory from shelf early can be optimal if the product is highly perishable and the salvage value is sufficiently large. We also find when customers are heterogeneous in their utility per quality, the retailer may prefer to provide information about the age of individual items to customers to exploit customers' heterogeneity. We base our analysis on the notion of rational expectations equilibrium in which customers and the retailer make optimal decisions based on their rational expectations regarding product quality and customers' shopping behaviors.
Author: Hailun Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 95
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Author: Steven Nahmias
Publisher: Springer Science & Business Media
ISBN: 1441979999
Category : Business & Economics
Languages : en
Pages : 89
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A perishable item is one that has constant utility up until an expiration date (which may be known or uncertain), at which point the utility drops to zero. This includes many types of packaged foods such as milk, cheese, processed meats, and canned goods. It also includes virtually all pharmaceuticals and photographic film, as well as whole blood supplies. This book is the first devoted solely to perishable inventory systems. The book’s ten chapters first cover the preliminaries of periodic review versus continuous review and look at a one-period newsvendor perishable inventory model. The author moves to the basic multiperiod dynamic model, and then considers the extensions of random lifetime, inclusion of a set-up cost, and multiproduct models of perishables. A chapter on continuous review models looks at one-for-one policies, models with zero lead time, optimal policies with positive lead time, and an alternative approach. Additional chapters present material on approximate order policies, inventory depletion management, and deterministic models, including the basic EOQ model with perishability and the dynamic deterministic model with perishability. Finally, chapters explore decaying inventories, queues with impatient customers, and blood bank inventory control. Anyone researching perishable inventory systems will find much to work with here. Practitioners and consultants will also now have a single well-referenced source of up-to-date information to work with.
Author: Karl G. Kempf
Publisher: Springer Science & Business Media
ISBN: 1441964851
Category : Business & Economics
Languages : en
Pages : 652
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In two volumes, Planning Production and Inventories in the Extended Enterprise: A State of the Art Handbook examines production planning across the extended enterprise against a backdrop of important gaps between theory and practice. The early chapters describe the multifaceted nature of production planning problems and reveal many of the core complexities. The middle chapters describe recent research on theoretical techniques to manage these complexities. Accounts of production planning system currently in use in various industries are included in the later chapters. Throughout the two volumes there are suggestions on promising directions for future work focused on closing the gaps.
Author: Qingyu
Publisher:
ISBN:
Category : Inventory control
Languages : en
Pages : 192
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Author: Marta Isabel López Yurda
Publisher: Rozenberg Publishers
ISBN: 9036101220
Category :
Languages : en
Pages : 171
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Author: Hui-Ting Wu
Publisher: Rozenberg Publishers
ISBN: 9036101913
Category :
Languages : en
Pages : 196
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Author: Tse-Chun Lin
Publisher: Rozenberg Publishers
ISBN: 9036101514
Category :
Languages : en
Pages : 146
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Author: Qingyu Chen
Publisher:
ISBN:
Category : Inventory control
Languages : en
Pages : 192
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