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 532379
Title A simple heuristic for perishable inventory control under non-stationary stochastic demand
Author(s) Alcoba, A.G.; Rossi, R.; Martin-Barragan, B.; Hendrix, E.M.T.
Source International Journal of Production Research 55 (2017)7. - ISSN 0020-7543 - p. 1885 - 1897.
Department(s) WASS
Operations Research and Logistics
Publication type Refereed Article in a scientific journal
Publication year 2017
Abstract In this paper, we study the single-item single-stocking location non-stationary stochastic lot sizing problem for a perishable product. We consider fixed and proportional ordering cost, holding cost and penalty cost. The item features a limited shelf life, therefore we also take into account a variable cost of disposal. We derive exact analytical expressions to determine the expected value of the inventory of different ages. We also discuss a good approximation for the case in which the shelf-life is limited. To tackle this problem, we introduce two new heuristics that extend Silver’s heuristic and compare them to an optimal Stochastic Dynamic Programming policy in the context of a numerical study. Our results demonstrate the effectiveness of our approach.
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