A stochastic inventory model with perishable and aging items

Lakhdar Aggoun, Lakdere Benkherouf and Lotfi Tadj

International Journal of Stochastic Analysis, 1999, vol. 12, 1-7

Abstract:

In this paper, we propose a single-product, discrete time inventory model for perishable items. Inventory levels are reviewed periodically and units in stock have a maximum lifetime of M periods. It is assumed that the dynamics of the inventory level is driven by a parameter process (reflecting perishability) and demands. By observing the history of the inventory level we obtain the conditional distribution of the perishability parameter by using the change of measure techniques. A special case is also presented.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnijsa:502917

DOI: 10.1155/S1048953399000039

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