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Deteriorating Inventory Model for Chilled Food
Joint Authors
Source
Mathematical Problems in Engineering
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-04-20
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
With many aspects that affect inventory policy, product perishability is a critical aspect of inventory policy.
Most goods will deteriorate during storage and their original value will decline or be lost.
Therefore, deterioration should be taken into account in inventory practice.
Chilled food products are very common consumer goods that are, in fact, perishable.
If the chilled food quality declines over time customers are less likely to buy it.
The value the chilled food retains is, however, closely dependent on its quality.
From the vendor’s point of view, quantifying quality and remaining value should be a critical business issue.
In consequence, we combined the traditional deterioration model and quality prediction model to develop a new deteriorating inventory model for chilled food products.
This new model quantifies food quality and remaining value.
The model we propose uses real deterioration rate data, and we regard deterioration rate as temperature-dependent.
We provide a numerical example to illustrate the solution.
Our model demonstrates that high storage temperatures reduce profits and force shorter order cycles.
American Psychological Association (APA)
Yang, M. F.& Tseng, Wei-Chung. 2015. Deteriorating Inventory Model for Chilled Food. Mathematical Problems in Engineering،Vol. 2015, no. 2015, pp.1-10.
https://search.emarefa.net/detail/BIM-1074805
Modern Language Association (MLA)
Yang, M. F.& Tseng, Wei-Chung. Deteriorating Inventory Model for Chilled Food. Mathematical Problems in Engineering No. 2015 (2015), pp.1-10.
https://search.emarefa.net/detail/BIM-1074805
American Medical Association (AMA)
Yang, M. F.& Tseng, Wei-Chung. Deteriorating Inventory Model for Chilled Food. Mathematical Problems in Engineering. 2015. Vol. 2015, no. 2015, pp.1-10.
https://search.emarefa.net/detail/BIM-1074805
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1074805