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Inventory Decisions for Perishable Products with Age and Stock Dependent Demand Rate
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<div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 87352</div> </div> </div> </div> <div class="card publication-listing mt-3 mb-3"> <h5 class="card-header" style="font-size:.9rem">Inventory Decisions for Perishable Products with Age and Stock Dependent Demand Rate</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Maher%20Agi">Maher Agi</a>, <a href="https://publications.waset.org/abstracts/search?q=Hardik%20Soni"> Hardik Soni</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper presents a deterministic model for optimized control of the inventory of a perishable product subject to both physical deterioration and degradation of its freshness condition. The demand for the product depends on its current inventory level and freshness condition. Our model allows for any positive amount of end of cycle inventory. Some useful conditions that characterize the optimal solution of the model are derived and an algorithm is presented for finding the optimal values of the price, the inventory cycle, the end of cycle inventory level and the order quantity. Numerical examples are then given. Our work shows how the product freshness in conjunction with the inventory deterioration affects the inventory management decisions. <iframe src="https://publications.waset.org/abstracts/86620.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title="inventory management">inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=lot%20sizing" title=" lot sizing"> lot sizing</a>, <a href="https://publications.waset.org/abstracts/search?q=perishable%20products" title=" perishable products"> perishable products</a>, <a href="https://publications.waset.org/abstracts/search?q=deteriorating%20inventory" title=" deteriorating inventory"> deteriorating inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=age-dependent%20demand" title=" age-dependent demand"> age-dependent demand</a>, <a href="https://publications.waset.org/abstracts/search?q=stock-dependent%20demand" title=" stock-dependent demand"> stock-dependent demand</a> </p> <a href="https://publications.waset.org/abstracts/86620/inventory-decisions-for-perishable-products-with-age-and-stock-dependent-demand-rate" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/86620.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">234</span> </span> </div> </div> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" rel="nofollow" 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