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    政大機構典藏 > 商學院 > 企業管理學系 > 期刊論文 >  Item 140.119/135842


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    題名: Inventory renewal for a perishable product: Economies of scale and age‐dependent demand
    作者: 陳立民
    Chen, Li-Ming
    Sapra, Amar
    貢獻者: 企管系
    關鍵詞: age-dependent demand;dynamic programming;inventory control;periodic review model;perishable products
    日期: 2020-11
    上傳時間: 2021-06-17 14:16:13 (UTC+8)
    摘要: We consider a finite-horizon, periodic-review system for a perishable product at a retailer that faces stochastic, age-dependent demand and loses excess demand, if any. For this system, we build three models that capture two sources of unfilled demand, insufficient inventory and inappropriate age, and penalize them at different rates. The models are characterized by increasing replenishment flexibility, and the goal of each model is to identify when to place an order and the quantity whenever an order is placed. In the first model, reorder intervals are equal. In the second model, reorder intervals can vary across orders. In the third model, reorder intervals continue to remain flexible but the retailer can also partially salvage her inventory whenever she has excess inventory. Using the models, we explore the effect of lost-sales penalties on the structure of the optimal value function. We find that the inventory-related cost in a period may lack convexity if the ratio of penalties for stockout and high age is below a threshold, which percolates to the value function as well. We also identify properties of the optimal replenishment policy for the three models. Finally, we conduct numerical experiments to identify the marginal value added by the flexibility in reorder intervals and the option to partially salvage inventory as a function of model parameters.
    關聯: Naval Research Logistics, Vol.68, No.3, pp.359-377
    資料類型: article
    DOI 連結: https://doi.org/10.1002/nav.21956
    DOI: 10.1002/nav.21956
    顯示於類別:[企業管理學系] 期刊論文

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