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Optimality of Myopic Policies in Disposing Excess Inventory

Author

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  • Donald B. Rosenfield

    (Massachusetts Institute of Technology, Cambridge, Massachusetts)

Abstract

In a recent article, the author presented results for the optimum levels of inventory to dispose and keep in an excess inventory situation. This note shows that these levels do not change when additional disposal opportunities are presented in the future. In this sense, the optimal policy is myopic in that the decision can be made without any examination of future decisions.

Suggested Citation

  • Donald B. Rosenfield, 1992. "Optimality of Myopic Policies in Disposing Excess Inventory," Operations Research, INFORMS, vol. 40(4), pages 800-803, August.
    • Handle: RePEc:inm:oropre:v:40:y:1992:i:4:p:800-803
    DOI: 10.1287/opre.40.4.800
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    Citations

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    Cited by:

    1. Z Shen & M Dessouky & F Ordonez, 2011. "Perishable inventory management system with a minimum volume constraint," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 62(12), pages 2063-2082, December.
    2. Qing Li & Peiwen Yu & Xiaoli Wu, 2016. "Managing Perishable Inventories in Retailing: Replenishment, Clearance Sales, and Segregation," Operations Research, INFORMS, vol. 64(6), pages 1270-1284, December.
    3. Alexandar Angelus, 2011. "A Multiechelon Inventory Problem with Secondary Market Sales," Management Science, INFORMS, vol. 57(12), pages 2145-2162, December.

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