Corpus ID: 141064440

Fixed Life Perishable Inventory Problem and Approximation under Price Promotion

  title={Fixed Life Perishable Inventory Problem and Approximation under Price Promotion},
  author={A. Chande and N. Hemachandra and N. Rangaraj and S. Dhekane},
  • A. Chande, N. Hemachandra, +1 author S. Dhekane
  • Published 2005
  • The problem considered here is to determine an optimal ordering policy and price promotion decision in each period, for a perishable item over a finite horizon. The fixed life perishability problem (FLPP) requires an age-wise profile of inventory. As the life of the item increases, the size of the state space also increases. It may be possible to reduce the size of a state space by collapsing some of its elements, without much loss of information. In this paper, we propose an approximation to… CONTINUE READING
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