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A new replenishment policy based on product age for blood inventory management considering blockchain

Author

Listed:
  • Azam Modares

    (Ferdowsi University of Mashhad)

  • Nasser Motahari Farimani

    (Ferdowsi University of Mashhad)

  • Farzad Dehghanian

    (Ferdowsi University of Mashhad)

Abstract

Effective blood inventory management is essential for maintaining adequate supply levels while minimizing costs, particularly due to the perishable nature of blood products. The primary challenge is to balance supply levels with the expiration dates of blood products to minimize waste and enhance efficiency. This study explores the potential of blockchain technology to optimize communication between vendors and retailers, thereby improving inventory management in vendor-managed inventory (VMI) systems. We also investigate optimal replenishment strategies regarding the timing and quantity of blood products with varying shelf lives. Two inventory policies are analyzed: the Optimized Priority (OP) policy, which prioritizes selling products based on profitability, and the Old-First (OF) policy, which prioritizes selling older products first to reduce waste. Our findings indicate that while the OF policy effectively minimizes waste-related costs, the OP policy maximizes profitability. Sensitivity analysis further reveals that higher levels of blockchain adoption can lead to a reduction in optimal order quantities. This study highlights how blockchain technology can enhance the efficiency of VMI systems for perishable goods, offering strategic insights for its implementation in supply chain management.

Suggested Citation

  • Azam Modares & Nasser Motahari Farimani & Farzad Dehghanian, 2025. "A new replenishment policy based on product age for blood inventory management considering blockchain," Operational Research, Springer, vol. 25(2), pages 1-55, June.
    • Handle: RePEc:spr:operea:v:25:y:2025:i:2:d:10.1007_s12351-025-00933-1
    DOI: 10.1007/s12351-025-00933-1
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