Abstract:This paper is devoted to the theory of perishable inventory systems. In such systems items arrive and stay ‘on the shelf’ until they are either taken by a demand or become outdated. Our aim is to survey, extend and enrich the probabilistic analysis of a large class of such systems. A unifying principle is to consider the so-called virtual outdating process $$\textbf{V}$$
V
, where V(t) is the time that would pass from t until the next outdating if no new demands arrived after t. T… Show more
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