Perishable inventory management with stochastic leadtime and different selling prices. (English) Zbl 0552.90027
This paper discusses a model for a perishable product with stochastic procurement leadtime and different selling prices. This model is a generalization of the one period horizon model of S. Nahmias [Oper. Res. 26, 464-481 (1978; Zbl 0383.90040], the authors and S. Shiode [Eur. J. Oper. Res. 8, 76-85 (1981; Zbl 0462.90022)], and the authors [J. Oper. Res. Soc. Jap. 24, 110-135 (1981; Zbl 0459.90022)]. For the model, the optimal ordering policy and its properties are derived.
MSC:
| 90B05 | Inventory, storage, reservoirs |
Keywords:
perishable product; stochastic procurement leadtime; different selling prices; optimal ordering policyReferences:
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