Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/21095
Title: Inventory management of perishable products : a time decay linked logistic approach
Authors: Ali, SS
Madaan, J
Chan, FTS 
Kannan, S
Keywords: Deterioration
Inventory management
Lot sizes
Perishable products
Time value
Issue Date: 2013
Publisher: Taylor & Francis
Journal: International journal of production research 
Abstract: This paper proposes a logistic-based approach to a class of inventory problems with shortages and time decay functions. Time decay and shortages are a common phenomena in products with short life cycles, and financial volatility necessitates more accurate characterisation of inventory costs based on time-adjusted value. In this paper an extended approach of Wagner-Whitin (WW) is used to determine lot sizes, replenishment cycle, and schedules. A sensitivity analysis of the proposed optimisation procedure has been conducted to justify its advantages.
URI: http://hdl.handle.net/10397/21095
ISSN: 0020-7543
EISSN: 1366-588X
DOI: 10.1080/00207543.2012.752587
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