Analysis of a periodic review inventory control system with perishables having random lifetime

We consider an order up to level policy for perishable items with random lifetime. We investigate two cases: the first one is the case where excess demand is completely lost and the second one deals with full backorders. Demands arrive according to a Poisson process. The lifetime of each item is ass...

Full description

Saved in:
Bibliographic Details
Published in:International journal of production research 2014-01, Vol.52 (1), p.283-298
Main Authors: Kouki, Chaaben, Jemai, Zied, Sahin, Evren, Dallery, Yves
Format: Article
Language:English
Subjects:
Business administration
Control systems
Demand
Humanities and Social Sciences
Inventories
Inventory control
Inventory controls
Lead time
Markov analysis
Markov process
Markov processes
Mathematical models
periodic review inventory control
Perishable goods
perishable items
Poisson distribution
Procurement
Stockpiling
Studies
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:We consider an order up to level policy for perishable items with random lifetime. We investigate two cases: the first one is the case where excess demand is completely lost and the second one deals with full backorders. Demands arrive according to a Poisson process. The lifetime of each item is assumed to be exponentially distributed and the procurement lead time is constant. We also assume that there is at most one outstanding order at any time. We model this inventory system as a Markov process in which stationary regime can be characterised. This model allows us to get insights on the impact of the model parameters on the overall system performance in terms of costs.
ISSN:0020-7543
1366-588X
DOI:10.1080/00207543.2013.839895