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An (r, Q) inventory policy for perishable products having a fixed lifetime

Author

Listed:
  • Zied Jemai

    (LGI - Laboratoire Génie Industriel - EA 2606 - CentraleSupélec)

  • Chaaben Kouki
  • Evren Sahin

    (LGI - Laboratoire Génie Industriel - EA 2606 - CentraleSupélec)

  • Y. Dallery

    (LGI - Laboratoire Génie Industriel - EA 2606 - CentraleSupélec)

Abstract

This paper deals with the inventory control of perishable products having a fixed lifetime. In the first part of the paper, we review the relevant literature on the problem of determining appropriate ordering policies for fixed life perishable inventory. Then, we propose a continuous review inventory policy; i.e. an (r, Q) policy, extending an earlier investigation (i.e. Chiu, 1995). Expressions of the different components of the expected total cost are derived and the problem of finding the optimal replenishment level r and the optimal incoming quantity Q is formulated. A comparative numerical study shows that the model we propose significantly outperforms the classical (r, Q) policy and Chiu's model.

Suggested Citation

  • Zied Jemai & Chaaben Kouki & Evren Sahin & Y. Dallery, 2008. "An (r, Q) inventory policy for perishable products having a fixed lifetime," Post-Print hal-01672446, HAL.
    • Handle: RePEc:hal:journl:hal-01672446
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