Optimal inventory policies for perishable items with time-dependent demand

Abstract This paper presents two computationally efficient solution methods that determine the optimal replenishment schedules for exponentially deteriorating items and perishable products with fixed lifetime. For both models, the inventoried items have general continuous-time-dependent demand. The models are formulated under the assumption of discrete opportunities for replenishment over a fixed planning horizon. Numerical examples are included to illustrate the models.

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