A coordinated multi-item inventory system for perishables with random lifetime

Kouki, Chaaben; Babaï, Mohamed Zied; Jemaı̈, Zied; Minner, Stefan

doi:10.1016/j.ijpe.2016.01.013

Cited by 41 publications

(26 citation statements)

References 37 publications

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“…Chu, Hsu, and Shen () considered the economic lot‐sizing problem with general economies of scale cost functions. Kouki, Babai, Jemai, and Minner () considered the continuous time inventory model for multiple perishable products and presented a ( s , c , S ) policy to coordinate the ordering decisions. Chen and Sapra () considered a finite periodic review model for a perishable product with a fixed lifetime equal to two periods.…”

Section: Literature Reviewmentioning

confidence: 99%

Purchase and retrieval competition for seasonal produce

Zhang

et al. 2020

Naval Research Logistics

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We study the competition problem of purchase and multiretrieval of perishable seasonal produce, where wholesalers purchase and stock their products in the first period, and then retrieve and sell them in subsequent periods. We first consider the duopoly case and assume that the prices are exogenous and fluctuate. In each period, after the price realization, the wholesalers retrieve some stock from their warehouses to satisfy their demands. One wholesaler's unsatisfied customers can switch to another and be satisfied by its left retrieved products. Any unsold retrieved stock has no salvage value and any unsatisfied demand is lost. The unretrieved stock is carried to the next period at a perishable rate. The wholesalers compete for the substitute demand by determining their own purchase and retrieval quantities. We show the existence and uniqueness of a pure‐strategy Nash equilibrium, and that the Nash equilibrium strategy has the simple “sell‐down‐to” structure. We also consider the general N‐person game and show the existence of the Nash equilibrium, and characterize the structure of the equilibrium strategy for the symmetric case. In addition, we consider the case with endogenous prices, and show that the problem reduces to a repeated newsvendor game with price and inventory competition. We derive the conditions under which a unique Nash equilibrium exists and characterize the equilibrium strategy. Finally, we conduct numerical studies to examine the impacts of the model parameters on the equilibrium outcomes and to generate managerial insights.

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Section: Literature Reviewmentioning

confidence: 99%

Purchase and retrieval competition for seasonal produce

Zhang

et al. 2020

Naval Research Logistics

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“…(). They classified the inventory models into three categories on the basis of the characteristics of perishability: (1) inventory with a fixed lifetime (Li et al., ; Chen et al., ; Muriana, ), (2) inventory with a random lifetime (Begum et al., ; Kouki et al., ), and (3) inventory decays in terms of utility or physical quantity (Feng et al., ; Herbon et al., ). This research focuses on the third type of inventory issue.…”

Section: Literature Reviewmentioning

confidence: 99%

Dynamic pricing, quality investment, and replenishment model for perishable items

Feng

2018

Int Trans Operational Res

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The deterioration of perishable items results not only in direct quantitative losses, but also in qualitative losses, which would reduce the customer acceptability. To maintain or improve the quality level, sellers usually invest in functionality, aesthetics, safety or any other attributes. In addition to quality, price also plays a critical role in influencing the purchase choice of consumers and the profit of a firm. Most inventory management models for perishables are restricted to physical quantity deterioration and do not address joint dynamic pricing and quality investment strategies. This paper studies an optimal replenishment model with dynamic pricing and quality investment for perishable products, where the quality and physical quantity deteriorate simultaneously. The demand rate is decreasing in sales price and increasing in quality level. A dynamic optimization model is proposed to maximize the total profit per unit time and solved on the basis of Pontryagin's maximum principle. The optimal joint dynamic pricing, quality investment, and replenishment policy is obtained. A numerical example and sensitivity analysis on the key system parameters are presented to illustrate the validity of the theoretical results. Some managerial implications for the pricing and quality investment for the perishables are provided.

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“…[12]) and investigate it due to the various analyses of periodic reviews (e.g. [13,14]). The main disadvantage of the latter approaches is that they mainly concern the replenishment problems and with that neglect the transportation costs that results out of the distribution plan realization.…”

Section: Literature Review Of the Existing Modelling Approachesmentioning

confidence: 99%

“…In some other studies (e.g. [7,8,14,16,19]) demand follows the Poisson distribution. On the other hand, Zhalechian and his colleagues [1] have found out that it is difficult or even impossible to fit an exact probability distribution for some objective-natured parameters, especially when there is a lack of historical information.…”

Section: Literature Review Of the Existing Modelling Approachesmentioning

confidence: 99%

Coordination of a Retail Supply Chain Distribution Flow

Vizinger

Žerovnik

2018

Teh. vjesn.

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Retail supply chains are very sensitive by their nature and need to adapt to several situations with the aim to increase their reliability, flexibility and convenience. There are many factors affecting the effectiveness of a distribution flow, from perishability, capacities of storage areas, lead times, untimely deliveries and others. Because the latter heavily depend on the planned and realized distribution and not on the demand side perspective, we partially neglect them in the initial study. We focus only on the demand satisfaction, without considering any pricing policies, perishability factors, etc. Beside stochastic demand modelling we introduce the multi-objective optimization approach to cope with the minimization of transport and warehouse costs, minimization of over stock effects and the maximization of customers' service level. Methodology used produces a set of solutions and its quality estimations in order to find the desired distribution plan that is near optimal. The paper further explains the integration of management decisions with respect to the obtained results of the modelling approach. The applicability of the model will be explained using a numerical example.

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A coordinated multi-item inventory system for perishables with random lifetime

Cited by 41 publications

References 37 publications

Purchase and retrieval competition for seasonal produce

Purchase and retrieval competition for seasonal produce

Dynamic pricing, quality investment, and replenishment model for perishable items

Coordination of a Retail Supply Chain Distribution Flow

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