Dynamic lot sizing with inventory bounds for a perishable product.
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| Title: | Dynamic lot sizing with inventory bounds for a perishable product. |
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| Authors: | Fan, Jie1 (AUTHOR), Mo, Zhuhao1 (AUTHOR), Su, Yong1 (AUTHOR), Tao, Yi1 (AUTHOR) oryitao@foxmail.com |
| Source: | International Journal of Production Research. Apr2026, Vol. 64 Issue 7, p2712-2730. 19p. |
| Subjects: | Perishable goods, Inventory control, Cost, Dynamic programming, Expiration, Economic lot size, Computer storage capacity |
| Abstract: | We investigate a dynamic lot-sizing problem with storage capacities for a perishable product that has a certain expiration date. The costs of carrying inventory stocks are differentiated by their ages, and the procurement cost functions are assumed to be general concave. We identify a condition related to the storage capacity constraint, under which the expiration date can be ignored. Then, the structural properties of the optimal solution are discussed. We use the properties to develop an efficient dynamic programming algorithm to solve the problem optimally. A faster algorithm is provided to solve a special case with fixed-plus-linear procurement costs. We conduct computational experiments to evaluate the efficiency of our algorithm and provide several insights into perishable inventory management under storage capacities. [ABSTRACT FROM AUTHOR] |
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| Database: | Engineering Source |
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| Abstract: | We investigate a dynamic lot-sizing problem with storage capacities for a perishable product that has a certain expiration date. The costs of carrying inventory stocks are differentiated by their ages, and the procurement cost functions are assumed to be general concave. We identify a condition related to the storage capacity constraint, under which the expiration date can be ignored. Then, the structural properties of the optimal solution are discussed. We use the properties to develop an efficient dynamic programming algorithm to solve the problem optimally. A faster algorithm is provided to solve a special case with fixed-plus-linear procurement costs. We conduct computational experiments to evaluate the efficiency of our algorithm and provide several insights into perishable inventory management under storage capacities. [ABSTRACT FROM AUTHOR] |
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| ISSN: | 00207543 |
| DOI: | 10.1080/00207543.2025.2582071 |
