TY - JOUR
T1 - Review of inventory systems with deterioration since 2001
AU - Bakker, M.
AU - Riezebos, J.
AU - Teunter, R.H.
PY - 2012/9/1
Y1 - 2012/9/1
N2 - This paper presents an up-to-date review of the advances made in the field of inventory control of perishable items (deteriorating inventory). The last extensive review on this topic dates back to 2001 (Goyal S.K. and Giri B.C., Recent trends in modeling of deteriorating inventory, European Journal of Operational Research, 134, 1-16). Since then, over two hundred articles on this subject have been published in the major journals on inventory control, indicating the need for a new review. We use the classification of Goyal and Giri based on shelf life characteristics and demand characteristics. Contributions are highlighted by discussing main system characteristics, including price discounts, backordering or lost sales, single or multiple items, one or two warehouses, single or multi-echelon, average cost or discounted cash flow, and payment delay. (C) 2012 Elsevier B.V. All rights reserved.
AB - This paper presents an up-to-date review of the advances made in the field of inventory control of perishable items (deteriorating inventory). The last extensive review on this topic dates back to 2001 (Goyal S.K. and Giri B.C., Recent trends in modeling of deteriorating inventory, European Journal of Operational Research, 134, 1-16). Since then, over two hundred articles on this subject have been published in the major journals on inventory control, indicating the need for a new review. We use the classification of Goyal and Giri based on shelf life characteristics and demand characteristics. Contributions are highlighted by discussing main system characteristics, including price discounts, backordering or lost sales, single or multiple items, one or two warehouses, single or multi-echelon, average cost or discounted cash flow, and payment delay. (C) 2012 Elsevier B.V. All rights reserved.
KW - Inventory control
KW - Deteriorating items
KW - Perishability
KW - Shelf life
KW - Decay
KW - Review
KW - TIME-VARYING DEMAND
KW - RAMP-TYPE DEMAND
KW - OPTIMAL REPLENISHMENT POLICY
KW - LOT-SIZE MODELS
KW - ECONOMIC ORDER QUANTITY
KW - STOCK-DEPENDENT DEMAND
KW - UNIT PRODUCTION COST
KW - WEIBULL DISTRIBUTION DETERIORATION
KW - EOQ MODEL
KW - PERISHABLE INVENTORY
U2 - 10.1016/j.ejor.2012.03.004
DO - 10.1016/j.ejor.2012.03.004
M3 - Article
VL - 221
SP - 275
EP - 284
JO - European Journal of Operational Research
JF - European Journal of Operational Research
SN - 0377-2217
IS - 2
ER -