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Author : Julian Keilson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (62 download)
Download or read book Product Selection Policies for Perishable Inventory Systems written by Julian Keilson and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Nahmias
Publisher : Springer Science & Business Media
ISBN 13 : 1441979999
Total Pages : 89 pages
Book Rating : 4.4/5 (419 download)
Download or read book Perishable Inventory Systems written by Steven Nahmias and published by Springer Science & Business Media. This book was released on 2011-05-17 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Suriawati Sahari
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (96 download)
Download or read book Inventory Policies for Multi-product Inventory Systems with Perishable and Non-perishable Components written by Suriawati Sahari and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ke Fu
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Managing Perishable Inventory Systems with Product Returns and Remanufacturing written by Ke Fu and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by emerging practice in the cut flower industry, we consider a periodic-review inventory system for a perishable product with a lifetime of two periods. There are two separate customer demands for the new product with two-period remaining lifetime and the old product with one-period remaining lifetime, and a fixed proportion of the unsatisfied demand for one product will purchase the other product as a substitute. One distinctive feature of our system is that a random portion of the sold new product is returned and can be remanufactured and re-marketed as the old product for sale. The objective is to maximize the expected total discounted profit over a finite planning horizon. We show that the optimal remanufacturing policy is a modified base-stock policy, and that the optimal manufacturing quantity of the new product decreases in the inventory level of the old product after remanufacturing. Furthermore, when the inventory level of the old product is large, the optimal manufacturing quantity asymptotically approaches a constant, which is lower and upper bounded by two newsvendor fractile solutions. We also conduct a numerical study to derive insights into the effects of remanufacturing and demand substitution. In particular, we show that remanufacturing can be a powerful way of mitigating negative environmental impacts in the cut flower industry. Finally, we discuss two model extensions that allow a joint production capacity and a multi-period lifetime.
Author : Venkata Sree Raghuram Madduri
Publisher :
ISBN 13 :
Total Pages : 147 pages
Book Rating : 4.:/5 (613 download)
Download or read book Inventory Policies for Perishable Products with Fixed Shelf Lives written by Venkata Sree Raghuram Madduri and published by . This book was released on 2009 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retail food industry has sales of over a trillion dollars. Most of these products are perishable in nature. This thesis deals with the development of multi period ordering policies for the perishable products with fixed shelf lives and finite replenishment lead times. In this thesis, simple ordering policies are developed by modifying the traditional EOQ model and base stock policies. The performance of both, the continuous review and periodic review policies, when applied to the perishable products with a fixed shelf life, is evaluated. Two categories of products--one with short shelf lives and another with long shelf lives are considered. Within each category, the shelf life, lead time, order quantity and review periods are varied. For a given shelf life and lead time, the best review periods and order quantities are identified. Both the continuous review and periodic review policies are evaluated using simulation models under three different distributions of demand, using cost and service levels as performance metrics. From the results of the simulations, the impact of product perishability on the EOQ ordering policies is studied. In the periodic review policy, it was found that the traditional EOQ base stock policy is optimal for the perishable products in almost all cases. For the continuous review policy, while perishability was not a factor, an increment of the computed EOQ value was found to be optimal due to lead time consideration. In general, with the proper choice of review periods and order quantities, the EOQ policies that are optimal for the non perishable products can also be used for the perishable products. Comparisons are also done between the relative performances of the periodic and continuous review policies. Overall, the continuous review policy gave a lower cost of operation for similar customer responsiveness measures.
Author : Bryan L. Deuermeyer
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (781 download)
Download or read book On Multi-product Perishable Inventory Systems with Dependent Demands written by Bryan L. Deuermeyer and published by . This book was released on 1977 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Leandro Callegari Coelho
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (938 download)
Download or read book Optimal Joint Replenishment, Delivery and Inventory Management Policies for Perishable Products written by Leandro Callegari Coelho and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : S. Nahmias
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (897 download)
Download or read book Optimal Ordering Policies for Perishable Inventory, 1 written by S. Nahmias and published by . This book was released on 1972 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 848 pages
Book Rating : 4.3/5 (91 download)
Download or read book Management Science written by and published by . This book was released on 1993 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes special issues: The Professional series in the management sciences.
Author : Xi Chen
Publisher : Springer Nature
ISBN 13 : 3031019261
Total Pages : 444 pages
Book Rating : 4.0/5 (31 download)
Download or read book The Elements of Joint Learning and Optimization in Operations Management written by Xi Chen and published by Springer Nature. This book was released on 2022-09-20 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines recent developments in Operations Management, and focuses on four major application areas: dynamic pricing, assortment optimization, supply chain and inventory management, and healthcare operations. Data-driven optimization in which real-time input of data is being used to simultaneously learn the (true) underlying model of a system and optimize its performance, is becoming increasingly important in the last few years, especially with the rise of Big Data.
Author : Hailun Zhang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Managing Perishable Inventory Systems as Non-Perishable Ones written by Hailun Zhang and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perishable inventory problems have a long history and involve two fundamental decisions, how much to order and how much old inventory to clear before expiration, that are known to be difficult to optimize due to the curse of dimensionality. Most early work ignores the clearance decision and focuses solely on the ordering decision until recently where heuristic clearance policies have been developed. In this paper, we approach the problem from a different angle by exploring its asymptotic behavior, i.e., perishability can be ignored in many cases and hence clearance of inventory is not necessary except at the beginning of the planning horizon when a system is large enough. Inspired by such asymptotic behavior, we examine simple policies that ignore clearance under minor conditions and establish theoretical bounds for them. The bounds not only vanish asymptotically, but also indicate a system size required to guarantee any given optimality gap. Numerical studies suggest that such policies can work very well for systems with reasonable sizes and practical management of complex perishable inventory systems is not so much harder than that of non-perishable ones.
Author : Sun Hwa Lee
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.:/5 (32 download)
Download or read book Optimal Policies for a Perishable Product Inventory Problem with Substitution written by Sun Hwa Lee and published by . This book was released on 1974 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth J. Valentas
Publisher : CRC Press
ISBN 13 : 9781420049077
Total Pages : 732 pages
Book Rating : 4.0/5 (49 download)
Download or read book Handbook of Food Engineering Practice written by Kenneth J. Valentas and published by CRC Press. This book was released on 1997-07-23 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt: Food engineering has become increasingly important in the food industry over the years, as food engineers play a key role in developing new food products and improved manufacturing processes. While other textbooks have covered some aspects of this emerging field, this is the first applications-oriented handbook to cover food engineering processes and manufacturing techniques. A major portion of Handbook of Food Engineering Practice is devoted to defining and explaining essential food operations such as pumping systems, food preservation, and sterilization, as well as freezing and drying. Membranes and evaporator systems and packaging materials and their properties are examined as well. The handbook provides information on how to design accelerated storage studies and determine the temperature tolerance of foods, both of which are important in predicting shelf life. The book also examines the importance of physical and rheological properties of foods, with a special look at the rheology of dough and the design of processing systems for the manufacture of dough. The final third of the book provides useful supporting material that applies to all of the previously discussed unit operations, including cost/profit analysis methods, simulation procedures, sanitary guidelines, and process controller design. The book also includes a survey of food chemistry, a critical area of science for food engineers.
Author : Edward Joel Ignall
Publisher :
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.:/5 (227 download)
Download or read book Optimal Policies for Two Product Inventory Systems, with and Without Setup Costs written by Edward Joel Ignall and published by . This book was released on 1966 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the case of no setup cost, the structure of the transient portion of the optimal N period policy for two product inventory systems is obtained, the recurrent portion having been obtained by Veinott. The function L, the expected holding and shortage cost this period, is assumed to satisfy conditions roughly equivalent to (a) having a unique minimum and (b) being quasiconvex in each dimension with the relative minimum decreasing as the other value increases. The policy is: do not order the overstocked product and order less of the other product than would be ordered if there were no overstocked product. The policy is stationary, depending neither on N nor on the number of periods remaining. For the setup cost case, the optimal N period policy is obtained under strong assumptions on L and the optimal one period policy under (a) and (b). Bounds analogous to those of Veinott and Wagner are obtained. The apparent inappropriateness of K-convexity is discussed. (Author).
Author : Jing-Sheng J. Song
Publisher : Edward Elgar Publishing
ISBN 13 : 180037710X
Total Pages : 565 pages
Book Rating : 4.8/5 (3 download)
Download or read book Research Handbook on Inventory Management written by Jing-Sheng J. Song and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Author : Zumbul Atan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Inventory Optimization for Perishables Subject to Supply Disruptions written by Zumbul Atan and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a retailer selling perishable products with fixed lifetime. Retailer's supply system is subject to random disruptions. Assuming a base-stock policy, deterministic demand and stationary parameters, we derive an expression for the expected cost function which consists of holding, backordering and perishing costs. After analyzing the properties of this function, we determine the closed form expression for the optimal base-stock level. This is the first paper to study the effects of supply disruptions on perishable-product inventory systems. Our analysis suggests that the optimal base-stock level depends on the lifetime but not on the unit perishing cost. We show that, for items with short lifetime, the choice of the base-stock level has a bigger impact on the cost than for items with a longer lifetime. We also show that if the retailer can manage to make the system safer, it is possible to operate with the same expected cost even with products with shorter lifetime. When it comes to disruption management, we conclude that companies should concentrate more on reducing the duration of supply disruptions instead of trying to prevent them. Finally, we show how to use our model for systems with stochastic demand and non-stationary parameters.
Download or read book Pricing and Inventory Control Policies for Perishable Products written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
