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Product Replacement Strategies for Perishable Inventory Systems using Queuing TheoryBy Rakesh kumar, Sumeet Kumar Sharma
Abstract: Inventory management plays a crucial role in managing production processes as well as the supply chains. The study of inventory systems with perishable products has a special significance as it influences the cost and revenue of a firm. Product replacement strategies act like safeguards to the retailers (firms) dealing with the business of perishable products. An inventory system with perishable products and product replacement is studied. A finite capacity multi-channel …
Published in Journal of Production Research & Management · Vol. 2, Issue 1-2-3, 2012 · pp. 18–25 Read article →