Inventory model for a fresh product when demand depends on freshness, price, inventory level and expiration date under markdown policy.
Nurzahara Atika KamaruzamanMohd OmarPublished in: J. Intell. Fuzzy Syst. (2020)
Keyphrases
- state dependent
- base stock policy
- lead time
- single product
- inventory level
- customer demand
- optimal policy
- revenue management
- market demand
- inventory control
- single period
- lost sales
- holding cost
- optimal production
- inventory policy
- production cost
- infinite horizon
- supply chain
- probabilistic model
- inventory management
- cost function
- transition probabilities
- production system