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Technical Note—Comparison between Two Dynamic Perishable Inventory Models

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  • Steven Nahmias

    (University of Pittsburgh, Pittsburgh, Pennsylvania)

Abstract

Two apparently different inventory models for describing optimal ordering policies for a fixed life commodity have been developed by Fries and Nahmias. This note considers the relationship between these models. Our main result is that the optimal policies for Fries' model and a discounted version of Nahmias' are identical when the remaining number of periods in the horizon exceeds the product lifetime in periods. We also discuss the relevance of these results to the computation of an approximate critical number policy developed elsewhere.

Suggested Citation

  • Steven Nahmias, 1977. "Technical Note—Comparison between Two Dynamic Perishable Inventory Models," Operations Research, INFORMS, vol. 25(1), pages 168-172, February.
    • Handle: RePEc:inm:oropre:v:25:y:1977:i:1:p:168-172
    DOI: 10.1287/opre.25.1.168
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    Cited by:

    1. Xiuli Chao & Xiting Gong & Cong Shi & Chaolin Yang & Huanan Zhang & Sean X. Zhou, 2018. "Approximation Algorithms for Capacitated Perishable Inventory Systems with Positive Lead Times," Management Science, INFORMS, vol. 64(11), pages 5038-5061, November.
    2. Hailun Zhang & Jiheng Zhang & Rachel Q. Zhang, 2020. "Simple Policies with Provable Bounds for Managing Perishable Inventory," Production and Operations Management, Production and Operations Management Society, vol. 29(11), pages 2637-2650, November.
    3. Xiuli Chao & Xiting Gong & Cong Shi & Huanan Zhang, 2015. "Approximation Algorithms for Perishable Inventory Systems," Operations Research, INFORMS, vol. 63(3), pages 585-601, June.

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