Decaying Inventories

Steven Nahmias ()
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Steven Nahmias: Santa Clara University

Chapter Chapter 8 in Perishable Inventory Systems, 2011, pp 55-60 from Springer

Abstract: Abstract Decay differs fundamentally from fixed life perishability. Decay means that the amount of loss due to outdating is a function of the amount of on hand inventory. The most common case is exponential decay, which means that a fixed fraction of the inventory is lost each unit of time. Decay has been studied in both continuous review and periodic review settings.

Keywords: Lead Time; Exponential Decay; Inventory Level; Taylor Series Expansion; Fixed Fraction (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-1-4419-7999-5_8

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