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Obsolescence of Commodities which are Subject to Deterioration in Store

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  • Samuel Eilon

    (Imperial College of Science and Technology, London)

Abstract

When the useful life of a commodity in the field ("the field life") is affected by the time the commodity spends in store prior to issue ("the store-age"), it is necessary to assess under what conditions goods become obsolete in the store before they are issued. Other problems of interest are: What is the total useful field life expected from a given stock-pile and what is the optimal quantity of goods that should be ordered? These problems are discussed for three cases: 1. A stock-pile of identical units 2. A stock-pile of non-identical units 3. A stock-pile of several batches of components. It is further shown that the last case is a general model, from which the first two and several other special cases may be derived.

Suggested Citation

  • Samuel Eilon, 1963. "Obsolescence of Commodities which are Subject to Deterioration in Store," Management Science, INFORMS, vol. 9(4), pages 623-642, July.
    • Handle: RePEc:inm:ormnsc:v:9:y:1963:i:4:p:623-642
    DOI: 10.1287/mnsc.9.4.623
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    Cited by:

    1. Madhukar Nagare & Pankaj Dutta & Pravin Suryawanshi, 2020. "Optimal procurement and discount pricing for single-period non-instantaneous deteriorating products with promotional efforts," Operational Research, Springer, vol. 20(1), pages 89-117, March.

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