Simple models for inventories of perishables

J. Gani; R. J. Swift

Simple models for inventories of perishables

J. Gani, R. J. Swift^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

This note examines a simple model for the inventory of perishables with a shelf life where η ≤ τ ≤ 2η, with in as the fixed reordering interval. The models presented are based upon the Poisson process and interpreted as a Markov chain. Some illustrative numerical examples are included.

Original language	English
Pages (from-to)	32-36
Number of pages	5
Journal	Mathematical Scientist
Volume	43
Issue number	1
Publication status	Published - Jun 2018

Cite this

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title = "Simple models for inventories of perishables",

abstract = "This note examines a simple model for the inventory of perishables with a shelf life where η ≤ τ ≤ 2η, with in as the fixed reordering interval. The models presented are based upon the Poisson process and interpreted as a Markov chain. Some illustrative numerical examples are included.",

keywords = "Inventory model, Markov chain, Perishables, Poisson process",

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AB - This note examines a simple model for the inventory of perishables with a shelf life where η ≤ τ ≤ 2η, with in as the fixed reordering interval. The models presented are based upon the Poisson process and interpreted as a Markov chain. Some illustrative numerical examples are included.

KW - Inventory model

KW - Markov chain

KW - Perishables

KW - Poisson process

UR - https://www.scopus.com/pages/publications/85052085761

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SN - 0312-3685

VL - 43

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JO - Mathematical Scientist

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Simple models for inventories of perishables

Abstract

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