A new replenishment policy based on product age for blood inventory management considering blockchain

Azam Modares (), Nasser Motahari Farimani () and Farzad Dehghanian ()
Additional contact information
Azam Modares: Ferdowsi University of Mashhad
Nasser Motahari Farimani: Ferdowsi University of Mashhad
Farzad Dehghanian: Ferdowsi University of Mashhad

Operational Research, 2025, vol. 25, issue 2, No 32, 55 pages

Abstract: Abstract Effective blood inventory management is essential for maintaining adequate supply levels while minimizing costs, particularly due to the perishable nature of blood products. The primary challenge is to balance supply levels with the expiration dates of blood products to minimize waste and enhance efficiency. This study explores the potential of blockchain technology to optimize communication between vendors and retailers, thereby improving inventory management in vendor-managed inventory (VMI) systems. We also investigate optimal replenishment strategies regarding the timing and quantity of blood products with varying shelf lives. Two inventory policies are analyzed: the Optimized Priority (OP) policy, which prioritizes selling products based on profitability, and the Old-First (OF) policy, which prioritizes selling older products first to reduce waste. Our findings indicate that while the OF policy effectively minimizes waste-related costs, the OP policy maximizes profitability. Sensitivity analysis further reveals that higher levels of blockchain adoption can lead to a reduction in optimal order quantities. This study highlights how blockchain technology can enhance the efficiency of VMI systems for perishable goods, offering strategic insights for its implementation in supply chain management.

Keywords: Vendor-managed inventory; Optimized priority; Old-first; Perishable products; Blockchain; Adoption rate (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s12351-025-00933-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:operea:v:25:y:2025:i:2:d:10.1007_s12351-025-00933-1

Ordering information: This journal article can be ordered from
https://www.springer ... search/journal/12351

DOI: 10.1007/s12351-025-00933-1

Access Statistics for this article

Operational Research is currently edited by Nikolaos F. Matsatsinis, John Psarras and Constantin Zopounidis

More articles in Operational Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().