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Inventory Depletion Management

Author

Listed:
  • Cyrus Derman

    (Columbia University)

  • Morton Klein

    (Columbia University)

Abstract

Consideration is given to problems of choosing the order of issue of items from a stockpile of material whose utility characteristics are changing with time. Conditions are given under which either LIFO (last in, first out) or FIFO (first in, first out) is an optimal issue policy.

Suggested Citation

  • Cyrus Derman & Morton Klein, 1958. "Inventory Depletion Management," Management Science, INFORMS, vol. 4(4), pages 450-456, July.
    • Handle: RePEc:inm:ormnsc:v:4:y:1958:i:4:p:450-456
    DOI: 10.1287/mnsc.4.4.450
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    File URL: http://dx.doi.org/10.1287/mnsc.4.4.450
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    Cited by:

    1. Michael Katehakis & Ingram Olkin & Sheldon Ross & Jian Yang, 2013. "On the life and work of Cyrus Derman," Annals of Operations Research, Springer, vol. 208(1), pages 5-26, September.
    2. Haijema, Rene, 2014. "Optimal ordering, issuance and disposal policies for inventory management of perishable products," International Journal of Production Economics, Elsevier, vol. 157(C), pages 158-169.
    3. Minner, Stefan & Transchel, Sandra, 2017. "Order variability in perishable product supply chains," European Journal of Operational Research, Elsevier, vol. 260(1), pages 93-107.
    4. Önal, Mehmet & Romeijn, H.Edwin & Sapra, Amar & van den Heuvel, Wilco, 2015. "The economic lot-sizing problem with perishable items and consumption order preference," European Journal of Operational Research, Elsevier, vol. 244(3), pages 881-891.

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