Optimal Inventory Model for Managing Demand-Supply Mismatches for Perishables with Stochastic Supply Optimal Inventory Model for Managing Demand-Supply Mismatches for Perishables with Stochastic Supply

Content Provider	Semantic Scholar
Author	Parameshwaran, Iyer N. V.
Copyright Year	2019
Abstract	While festivals bring a reason to cheer for everyone, businesses dealing with a spike in demand for perishables may have to live with the misery of lost sales and/or expired items. As a case study, we look into the dairy industry which deals with liquid milk, where both raw material and finished goods are perishable, which implies that merely stockpiling inventory of either item, without paying attention to potential inventory losses, cannot be an optimal strategy. In this research, we formulate a stochastic optimization model to determine the supply targets for inventory planning that leads to optimal profits over the time-series.
File Format	PDF HTM / HTML
Alternate Webpage(s)	https://ctl.mit.edu/sites/ctl.mit.edu/files/theses/executive-summary-thesis-optimal-inventory-model-for-managing-demand-supply-mismatches-for-perishables-with-stochastic-supply-updated.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article