A stochastic inventory model with perishable and aging items (Q1305817)
From MaRDI portal
 | This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use this page instead for the normal view: A stochastic inventory model with perishable and aging items |
scientific article; zbMATH DE number 1343138
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A stochastic inventory model with perishable and aging items |
scientific article; zbMATH DE number 1343138 |
Statements
A stochastic inventory model with perishable and aging items (English)
0 references
15 February 2000
0 references
Summary: We propose a single-product, discrete time inventory model for perishable items. Inventory levels are reviewed periodically and units in stock have a maximum lifetime of \(M\) periods. It is assumed that the dynamics of the inventory level is driven by a parameter process (reflecting perishability) and demands. By observing the history of the inventory level we obtain the conditional distribution of the perishability parameter by using the change of measure techniques. A special case is also presented.
0 references
inventory control
0 references
perishable items
0 references
Markov models
0 references
change of measure techniques
0 references
0.9271498
0 references
0.92534304
0 references
0.9138663
0 references
0.90783644
0 references
