A Discrete time markovian inventory model for perishable commodities

Shaul K. Bar-Lev, David Perry

Research output: Contribution to journalArticlepeer-review

Abstract

In this paper, we analyze a Markovian inventory model for perishable commodities, in which the arrivals of items into the system as well as the demands for these items are assumed to be discrete r.v.’s having a common support {0, 1}. Each item in the system is classified into one of N age categories. New items arriving in the system are placed into the first age category. Items of age category j, j = 1,. N-l, which have not been removed by demand during a day, are placed into age category j + 1 at the beginning of the next day. Items of age N, which have not been removed by demand, are registered as outdates. Results concerning the characteristics of such a model are derived for the case of two and three age categories.

Original languageEnglish
Pages (from-to)243-259
Number of pages17
JournalStochastic Analysis and Applications
Volume7
Issue number3
DOIs
StatePublished - Jan 1989

ASJC Scopus subject areas

  • Statistics and Probability
  • Statistics, Probability and Uncertainty
  • Applied Mathematics

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