Managing perishable food in a retail store is quite difficult because of the product’s short lifetime and deterioration. Many elements, such as price, shelf space allocation, and quality, which can affect the consumption rate, should be taken into account when the perishable food retail chain is designed. The modern tracking technologies provide good opportunities to improve the management of t...

– This paper derives a good approach to approximating the expected inventory level per unit time for the continuous review perishable inventory system. Three existing approximation approaches are examined and compared with the proposed approach. Three stockout cases, including the full backorder, the partial backorder, and the full lost sales cases, which customers or material users generally u...

This paper studies a perishable inventory model, which assumes that each perishable item has finite lifetime, and only one item is consumed each time. The lifetimes of perishable items are independent random variables with the general distribution and so are the consumption internal. Under this assumption, by using backward equations and limit distribution of Markov skeleton processes, this pap...

We analyze the life cycle consumption choice model for multiple goods, focusing on the distinction between durables and perishables. As an approximation of the fact that rather high transaction costs and market imperfections prevail inmarkets for used durables, we assume that investment in durables is irreversible. In contrast to the additive model with one perishable good, the optimal consumpt...

We formulate the multiperiod, distribution-free perishable inventory problem as a problem of prediction with expert advice and apply an online learning method (the Weak Aggregating Algorithm) to solve it. We show that the asymptotic average performance of this method is as good as that of any time-dependent stocking rule in a given parametric class.

Abstract Assume that customers are price sensitive, changes in the price of perishable products will bring changes in demand, and business can adjust the perishable products' price to influence the market demand, a perishable products multi-stage pricing model considering cancelations and no-shows is proposed, and the optimal pricing, the optimal expected revenue with the products' initial quan...