Computing replenishment cycle policy parameters for a perishable item with non-stationary stochastic demand under service level constraints

Research output: Chapter in Book/Report/Conference proceedingAbstract

Abstract

Inventory management of perishable products is one of the key challenges in food industry. The decision maker has to determine the timing and production quantity of each replenishment, in order to minimise expected costs, guarantee a service level andavoid excessive waste. We formulate a mixed-integer linear programming model to compute optimal replenishment cycle policy parameters for an item with a fixed lifetime of any length and a stochastic erratic demand under service level constraints. The model keeps track of the ages of the items in stock and uses a FIFO policy
Original languageEnglish
Title of host publication24th European conference on operational research, July 11-14 2010, Lisbon, Portugal
Place of PublicationLisbon
Pages38-39
Publication statusPublished - 2010
EventEURO XXIV -
Duration: 11 Jul 201014 Jul 2010

Conference

ConferenceEURO XXIV
Period11/07/1014/07/10

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