Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 494968
Title Stock-level dependent ordering of perishables: a comparison of hybrid base-stock and constant order policies
Author(s) Haijema, R.; Minner, S.
Source International Journal of Production Economics 181 (2016). - ISSN 0925-5273 - p. 215 - 225.
Department(s) Operations Research and Logistics
Publication type Refereed Article in a scientific journal
Publication year 2016
Abstract In practice, traditional stock-level dependent policies, like base-stock policies (BSP) and constant order policies (COP), are commonly used for replenishing inventories of perishable products at retailers. These policies are preferred for being easy to implement: they only require information on the total number of products in stock, but not differentiated by their age. In this paper, we analyze a number of new and existing hybrid BSP-COP policies. These policies have different complexities, but, so far, they have not been systematically compared with respect to their performance. By simulation-based optimization, the parameter values of the policies are determined. For this purpose, search ranges for the parameter values are provided. Based on an extensive set of experiments, insights are gained on when to apply which policy. The results show that two newly proposed enhancements of traditional base-stock policies, in particular, perform well and can be recommended for practical implementation.
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