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On ordering perishable inventory under erlang demand

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  • Steven Nahmias

Abstract

Existing models for describing optimal ordering policies for perishable inventory cast the problem as a multidimensional dynamic program, the dimensionality being one less than the product lifetime in periods. An approach developed in previous work takes explicit account of outdating in the single period model. Formulas for the expected quantity of any new order which will outdate are developed for the case where the demand has a stationary Erlang distribution. A modified version of the one period model is shown to yield a reasonable approximation to the stationary optimal policy.

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  • Steven Nahmias, 1975. "On ordering perishable inventory under erlang demand," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 22(3), pages 415-425, September.
    • Handle: RePEc:wly:navlog:v:22:y:1975:i:3:p:415-425
    DOI: 10.1002/nav.3800220302
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    Cited by:

    1. Sasanuma, Katsunobu & Delasay, Mohammad & Pitocco, Christine & Scheller-Wolf, Alan & Sexton, Thomas, 2022. "A marginal analysis framework to incorporate the externality effect of ordering perishables," Operations Research Perspectives, Elsevier, vol. 9(C).

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