A stochastic micro-periodic age-based inventory replenishment policy for perishable goods

Janssen, Larissa and Diabat, Ali and Sauer, J�rgen and Herrmann, Frank
Transportation Research Part E: Logistics and Transportation Review
Transportation Research Part E: Logistics and Transportation Review
In this paper, we propose a micro-periodic inventory replenishment policy for quickly perishable goods with fixed and known lifetime of items, deterministic lead time, fixed given order cycle, mixed issuing policies (FIFO and LIFO), age-based stock, imperfect items and target customer service level under random demand. The inventory policy is based on time of day (morning, midday, afternoon or evening). The results of our simulation study show that the proposed micro-periodic inventory policy leads to waste reduction of 66as well as a partial decrease in cost compared to inventory policy with planning on a daily basis.
2018
article
445-465