# Perishable Inventory Theory: A Review

## Related Articles

- A MARKOVIAN MODEL FOR A PERISHABLE PRODUCT INVENTORY. Chazan, Dan; Gal, Shmuel // Management Science;Jan1977, Vol. 23 Issue 5, p512
The rate of outdating of a perishable product (such as blood) and the age distribution of the inventory are analyzed. It is assumed that after each period's demand, the inventory is replenished with fresh product, up to a constant level. The age distribution is treated as a finite Markov chain....

- Optimal Ordering Policy for a Perishable Commodity with Fixed Lifetime. Fries, Brant E. // Operations Research;Jan/Feb75, Vol. 23 Issue 1, p46
This paper extends the classical single-item, multiperiod inventory model of ARROW, KARLIN, and SCARF to the case where a good in storage perishes exactly l periods after its receipt on order. Units are followed from the time they are purchased and enter the inventory until they are either...

- PATHWISE PROPERTIES AND PERFORMANCE BOUNDS FOR A PERISHABLE INVENTORY SYSTEM. Cooper, William L. // Operations Research;May/Jun2001, Vol. 49 Issue 3, p455
We study a perishable inventory system under a fixed-critical number order policy. By using an appropriate transformation of the state vector, we derive several key sample-path relations. We obtain bounds on the limiting distribution of the number of outdates in a period, and we derive families...

- The competitive newsboy. Lippman, Steven A.; McCardle, Kevin F. // Operations Research;Jan/Feb97, Vol. 45 Issue 1, p54
We consider a competitive version of the classical newsboy problem--in which a firm must choose an inventory or production level for a perishable good with random demand, and the optimal solution is a fractile of the demand distribution--and investigate the impact of competition upon industry...

- Analysis of the (Q, r) Inventory Model for Perishables with Positive Lead Times and Lost Sales. Berk, Emre; Gürler, Ülkü // Operations Research;Sep/Oct2008, Vol. 56 Issue 5, p1238
We consider a perishable inventory system with Poisson demands, fixed shelf lives, constant lead times, and lost sales in the presence of nonnegligible fixed ordering costs. The inventory control policy employed is the continuous-review (Q

- A Risk-Sensitive Model for Managing Perishable Products. Youyi Feng; Baichun Xiao // Operations Research;Sep/Oct2008, Vol. 56 Issue 5, p1305
This article presents a risk-sensitive model for managing perishable products assuming the supplier is averse to the variation of revenues. While traditional risk-neutral revenue management models offer optimal strategies in the long run, they are exposed to the variation of revenue flows. If a...

- A Multi-Type Production System for Perishable Inventories. Deuermeyer, Bryan L. // Operations Research;Sep/Oct79, Vol. 27 Issue 5, p935
This paper develops a one-period model for investigating the properties of the optimal production policy for a system composed of two production processes called types A and B. These in turn produce two perishable stock items called products 1 and 2, having independent random demands and...

- Higher-Order Approximation for the Perishable-Inventory Problem. Nahmias, Steven // Operations Research;Jul/Aug77, Vol. 25 Issue 4, p630
Computation of an optimal policy for ordering a perishable commodity with a fixed lifetime of m periods requires the solution of a dynamic program whose state variable has dimension m - 1. Unless m is small, the computations quickly become unreasonable. By bounding the expected outdating...

- Optimal Ordering Policies for Continuous Review Perishable Inventory Models. Weiss, Howard J. // Operations Research;Mar/Apr80, Vol. 28 Issue 2, p365
This paper extends the notions of perishable inventory models to the realm of continuous review inventory systems The traditional perishable inventory costs of ordering, holding, shortage or penalty, disposal and revenue are incorporated into the continuous review framework. The type of policy...