Periodic Review Inventory Policy for Perishables with Random Lifetime
نویسندگان
چکیده
ABSTRACT: We consider a periodic review inventory system for perishable items with lost sales. Demands arrive according to a Poisson process. The lifetime of each item is exponentially distributed and the procurement lead time is constant. This type of modeling is motivated by the recent application of the so called Time Temperature Technologies. With this technology, it is possible to detect any perished item. The lifetime is therefore represented by a stochastic duration. We deal with the discrete time monitoring instead of the continuous one since it is often used in practice. We model the behavior of this inventory system as a Markov processor which we can characterize the stationary regime. This model allows us to get some insights on the impact of the parameters on the overall performance in terms of costs or profit.
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