Record Details

LOT-SIZING FOR A PRODUCT SUBJECT TO OBSOLESCENCE OR PERISHABILITY

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Field Value
 
Title LOT-SIZING FOR A PRODUCT SUBJECT TO OBSOLESCENCE OR PERISHABILITY
 
Creator JAIN, K
SILVER, EA
 
Subject heuristics
uncertainty
lot sizing
perishability
obsolescence
stochastic dynamic programming
heuristic
 
Description This paper presents a stochastic dynamic programming model for determining the optimal ordering policy for a perishable or potentially obsolete product so as to satisfy known time-varying demand over a specified planning horizon. We have considered random life time perishability where, at the end of each discrete period, the total remaining inventory either becomes worthless or remains usable for at least the next period. Two approximate solution methods are shown. The optimal and heuristic methods are compared on a large set of test problems and their performance as a function of various problem parameters is analyzed.
 
Publisher ELSEVIER SCIENCE BV
 
Date 2011-07-25T15:56:21Z
2011-12-26T12:51:23Z
2011-12-27T05:35:23Z
2011-07-25T15:56:21Z
2011-12-26T12:51:23Z
2011-12-27T05:35:23Z
1994
 
Type Article
 
Identifier EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 75(2), 287-295
0377-2217
http://dx.doi.org/10.1016/0377-2217(94)90075-2
http://dspace.library.iitb.ac.in/xmlui/handle/10054/6726
http://hdl.handle.net/10054/6726
 
Language en