 Expiration dates and order quantities for perishablesMichael Ketzenberg, Gary Gaukler and Victoria Salin () European Journal of Operational Research, 2018, vol. 266, issue 2, 569-584 Abstract: We address the problem of how to set expiration dates for perishable products in the context of a retailer that sells a random lifetime product under periodic review. Although the lifetime is random, the retailer, in addition to deciding when and how much to order, must also determine an expiration date that corresponds to the maximum number of periods that inventory may remain available for sale before it must be discarded. Unlike other models of perishable inventory, but similar to real-world processes, it is possible to unknowingly sell products that have reached the limit of their retail shelf life, or to discard products that are still good for sale. As a result, retailers must balance hazard costs and perishing costs by setting a remaining shelf life that provides customers with a reasonable time for storage at home before the product actually spoils. Keywords: Supply chain management; Perishables; Inventory; Simulation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:266:y:2018:i:2:p:569-584 DOI: 10.1016/j.ejor.2017.10.005 Access Statistics for this article European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati More articles in European Journal of Operational Research from Elsevier |
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