A stochastic micro-periodic age-based inventory replenishment policy for perishable goods

Janssen, Larissa; Diabat, Ali; Sauer, Jürgen; Herrmann, Frank

doi:10.1016/j.tre.2018.08.009

Cited by 29 publications

(15 citation statements)

References 33 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…e model considers that the demand for perishables is affected by sales prices and freshness. Janssen et al [17] proposed a microperiodic inventory replenishment policy for quickly perishable goods under stochastic demand, which can be used for perishable items when waste reduction is aimed for.…”

Section: Literature Reviewmentioning

confidence: 99%

Inventory Optimization of Fresh Agricultural Products Supply Chain Based on Agricultural Superdocking

Shen

et al. 2020

Journal of Advanced Transportation

View full text Add to dashboard Cite

The “agricultural superdocking” mode which has been strong supported by the government has become the main way for fresh agricultural products to enter the market in China. Based on the analysis of fresh agricultural products supply chain inventory management under the “agricultural superdocking” mode, this paper constructs an integrated inventory model for fresh agricultural products of “farmers’ professional cooperatives + distribution centers + supermarkets.” Considering multiple members at each echelon of a supply chain, a model that maximizes the overall profit of the supply chain is proposed. The model assumes that the market demand of fresh agricultural products is affected by freshness and sales prices, and the distribution center is responsible for not only storage, processing, and distribution but also coordinating the production and supply information of farmers’ professional cooperatives and the order sales information of supermarkets. An improved genetic algorithm is developed to solve the nonlinear optimization problem. Results of a case study show that the optimal supply and replenishment strategy under the given supply chain distribution process are obtained.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Inventory Optimization of Fresh Agricultural Products Supply Chain Based on Agricultural Superdocking

Shen

et al. 2020

Journal of Advanced Transportation

View full text Add to dashboard Cite

show abstract

“…Wastes differ from financial measures as they are a physical outcome of the PIS policy. By quantifying waste production, a model can also be assessed for its sustainability [10], [11]. The minimization of waste, separate from its contributions to cost, is used as an objective in a number of studies [5].…”

Section: Perishable Inventory Systemsmentioning

confidence: 99%

“…The perishable nature of inventories in PIS is represented as a finite lifetime. This leads to wastes at the end of the product lifetime [11], [12], and declining demand over time for a specific unit [5], [9], [31]. In most PIS models, a scenario analysis is conducted for various rates of deterioration.…”

Section: Perishable Inventory Systemsmentioning

confidence: 99%

See 1 more Smart Citation

Assessment of the Quality and Sustainability Implications of FIFO and LIFO Inventory Policies through System Dynamics

Ching¹,

Mutuc²,

Jose³

2019

Adv. sci. technol. eng. syst. j.

View full text Add to dashboard Cite

Perishable inventory management contributes simultaneously to society and the economy, by reducing food wastage and capitalizing on the freshness of goods. For this reason, countless mathematical models have been developed for their effectiveness and costefficient management. Yet, the majority of these models can only optimize systems for a limited time frame, allowing for small gains in operations management, but failing to change the recurring patterns in inventory levels. System dynamics (SD) modelling shifts emphasizes these patterns and the recurring decisions that make them. Moreover, the framework has generated insight for other supply chain cases that could not have been derived from a short-term perspective. Thus, the current study now seeks to apply the SD framework in modelling perishable inventory systems, in designing policies that benefit the environment and the economy by reducing waste production and increasing the viability of goods reaching the customer. In particular, it evaluates the impact of opposing issuance policies (i.e. First-In-First-Out (FIFO) and Last-In-First-Out (LIFO)) on perishables to demonstrate the potential of SD in improving perishable inventory management. The simulated results share the sentiments of optimization models, that FIFO will ultimately generate less wastes and incur less material costs. Yet, the simulations also reveal implementing FIFO will result in larger fluctuations in inventory levels, which imply greater inconsistency in age-based quality. These suggest that LIFO would be preferable for quality-sensitive products, while FIFO would be preferable for cases sensitive to waste production. The current study demonstrates the efficiency of system dynamics in generating insight beyond that which can be derived from the existing mathematical models. Future studies may likewise extend this approach in the evaluation of policies on the use of technology in perishable inventory systems, which are the prevalent in present literature.

show abstract

“…Various multi-echelon inventory control policy have been studied in literatures. Most of them considered various factors in the inventory system, and then established the mathematical analysis model to solve the problem [1][2][3][4][5][6] . However, the inventory problem under supply chain environment is stochastic and dynamic, and the mathematical model has great limitations in solving this kind of problem [7,8] .…”

Section: Introductionmentioning

confidence: 99%

Simulation-based optimization of control policy on multi-echelon inventory system for fresh agricultural products

Feng

Chen

et al. 2019

International Journal of Agricultural and Biological Engineering

View full text Add to dashboard Cite

As fresh agricultural products are perishable and vulnerable, reducing inventory cost is a strategic target for supply chain enterprises. How to design a reliable multi-echelon inventory control policy is still a great challenge. Therefore, the inventory cost of a three-level fresh agricultural products inventory system was firstly mathematically analyzed. Then, the simulation-based optimization model of the multi-echelon inventory system for fresh agricultural products was proposed by using the Flexsim simulation software and the improved particle swarm optimization algorithm. Finally, the multi-echelon inventory system is simulated based on a large number of survey data. Simulation results demonstrate that the proposed simulation-based optimization model of multi-echelon inventory system for fresh agricultural products can provide decision-making and technical support for the formulation of inventory control policy, and also it shows that the modeling of system simulation is an effective method to solve the problem of complex system.

show abstract

A stochastic micro-periodic age-based inventory replenishment policy for perishable goods

Cited by 29 publications

References 33 publications

Inventory Optimization of Fresh Agricultural Products Supply Chain Based on Agricultural Superdocking

Inventory Optimization of Fresh Agricultural Products Supply Chain Based on Agricultural Superdocking

Assessment of the Quality and Sustainability Implications of FIFO and LIFO Inventory Policies through System Dynamics

Simulation-based optimization of control policy on multi-echelon inventory system for fresh agricultural products

Contact Info

Product

Resources

About