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A lost sales (S — 1, S) perishable inventory system with renewal demand

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  • S. Kalpakam
  • K. P. Sapna

Abstract

This article analyzes a one‐to‐one ordering perishable inventory model with renewal demands and exponential lifetimes. The leadtimes are independently and exponentially distributed and the demands that occur during stock out periods are lost. Although the items are assumed to decay at a constant rate, the output process is not renewal and the Markov renewal techniques are successfully employed to obtain the operating characteristics. The problem of minimizing the long run expected cost rate is discussed and numerical values of optimal stock level are also provided. © 1996 John Wiley & Sons, Inc.

Suggested Citation

  • S. Kalpakam & K. P. Sapna, 1996. "A lost sales (S — 1, S) perishable inventory system with renewal demand," Naval Research Logistics (NRL), John Wiley & Sons, vol. 43(1), pages 129-142, February.
    • Handle: RePEc:wly:navres:v:43:y:1996:i:1:p:129-142
    DOI: 10.1002/(SICI)1520-6750(199602)43:13.0.CO;2-D
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    References listed on IDEAS

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    1. Steven Nahmias, 1982. "Perishable Inventory Theory: A Review," Operations Research, INFORMS, vol. 30(4), pages 680-708, August.
    2. Stephen A. Smith, 1977. "Optimal Inventories for an (S - 1, S) System with No Backorders," Management Science, INFORMS, vol. 23(5), pages 522-528, January.
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    Cited by:

    1. Kouki, Chaaben & Babai, M. Zied & Minner, Stefan, 2018. "On the benefit of dual-sourcing in managing perishable inventory," International Journal of Production Economics, Elsevier, vol. 204(C), pages 1-17.
    2. Hansen, Ole & Transchel, Sandra & Friedrich, Hanno, 2023. "Replenishment strategies for lost sales inventory systems of perishables under demand and lead time uncertainty," European Journal of Operational Research, Elsevier, vol. 308(2), pages 661-675.
    3. Bijvank, Marco & Vis, Iris F.A., 2011. "Lost-sales inventory theory: A review," European Journal of Operational Research, Elsevier, vol. 215(1), pages 1-13, November.
    4. Tekin, Eylem & Gurler, Ulku & Berk, Emre, 2001. "Age-based vs. stock level control policies for a perishable inventory system," European Journal of Operational Research, Elsevier, vol. 134(2), pages 309-329, October.
    5. Y. Barron, 2019. "A state-dependent perishability (s, S) inventory model with random batch demands," Annals of Operations Research, Springer, vol. 280(1), pages 65-98, September.
    6. Pahl, Julia & Voß, Stefan, 2014. "Integrating deterioration and lifetime constraints in production and supply chain planning: A survey," European Journal of Operational Research, Elsevier, vol. 238(3), pages 654-674.

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