An EOQ model for perishable products with fixed shelf life under stochastic demand conditions
| Autor: | Cinzia Muriana |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
0209 industrial biotechnology
021103 operations research Information Systems and Management General Computer Science Operations research Stochastic modelling Warehouse management 0211 other engineering and technologies Economic shortage 02 engineering and technology Management Science and Operations Research Shelf life Industrial and Manufacturing Engineering Normal distribution 020901 industrial engineering & automation Modeling and Simulation Economics Economic order quantity Unit cost Stock (geology) |
| Zdroj: | European Journal of Operational Research. 255:388-396 |
| ISSN: | 0377-2217 |
| Popis: | The paper presents a mathematical stochastic model for perishable open-dating foods including shortage and outdating costs. The demand fluctuations have been taken into account modeling them through a normal distribution, and their impact on the storage time has been studied considering the stochastic nature of such a parameter in turn. The quantification of perished products has been also addressed, determining the probability for a product of remaining in stock beyond the end of its Shelf Life. On the basis of such premises, the optimal set of parameters that minimize the total unit cost has been determined. A numerical application and a sensitivity analysis show the practical applicability of the proposed model in the context of warehouse management, underlining managerial insights. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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