Using system simulation to search for the optimal multi-ordering policy for perishable goods

Using system simulation to search for the optimal multi-ordering policy for perishable goods

This paper explores the possibility that perishable goods can be ordered several times in a single period after considering the cost of Marginal contribution, Marginal loss, Shortage, and Purchasing under stochastic demand. In order to determine the optimal ordering quantity to improve the tradition...

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Bibliographic Details
Main Authors: Y.C. Huang, X.Y. Chang, Y.A. Ding
Format: Article
Language:English
Published: Universitat Politècnica de València 2019-01-01
Series:International Journal of Production Management and Engineering
Subjects:
Perishable goods
Single-period
Multi-ordering
Newsvendor model
Monte Carlo method
Online Access:https://polipapers.upv.es/index.php/IJPME/article/view/10745
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