FIFO Versus LIFO Issuing Policies for Stochastic Perishable Inventory Systems

Keyphrases

• First-in-first-out 100%
• Perishable Inventory System 100%
• Issuing Policy 100%
• Last-in-first-out 100%
• Average Profit 66%
• System Parameters 33%
• Time of Arrival 33%
• Sensitivity Analysis 33%
• Numerical Examples 33%
• Parameter Values 33%
• Analytical Results 33%
• Poisson Process 33%
• Perishable Items 33%
• Varying Parameters 33%
• Inventory System 33%
• Shelf Space 33%
• Unsatisfied Demand 33%
• Purchase Cost 33%
• Long Shelf Life 33%
• Optimal Input 33%

Mathematics

• Stochastics 100%
• Arrival Time 100%
• System Parameter 100%
• Numerical Example 100%
• Input Rate 100%