An Approximation to the Continuous Review Inventory Model with Perishable Items and Lead Times

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题名:	An Approximation to the Continuous Review Inventory Model with Perishable Items and Lead Times
作者:	Chiu, H. N.
贡献者:	亞洲大學經營管理學系
关键词:	Inventory control;Perishable item;Approximation;Heuristic methods;Algorithms;Simulation;Comparative study
日期:	1995
上传时间:	2010-06-10 03:51:40 (UTC+0)
出版者:	Asia University
摘要:	A continuous review perishable inventory model based on approximations to the expected outdating, the expected shortage quantity, and the expected inventory level is developed to determine a best (Q, r) ordering policy under a positive order leadtime when the total expected average cost per unit time is minimized. The approximation method is simple and verified by a comparison with the Weiss model. The results reveal that the mean absolute deviation from the optimal total expected average cost per unit time is only 0.58%. This paper also compares the proposed model to the conventional model with no perishability. A value is given to the item lifetime indicating when an approximate answer approaches closely to the conventional ordering policy. Finally, a simulation model written in SIMSCRIPT II.5 is used to validate the approximate results.
關聯:	European Journal of Operational Research, Elsevier Science B. V. 87(1) : 93-108
显示于类别:	[經營管理學系 ] 期刊論文

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