A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model
This paper reviews research on single-echelon inventory management of perishable products using the continuous review model. A steady progression of research in this area has included of a range of parameters and is reachinga saturation point where models appear effective and cover a range of realis...
| Main Authors: | , , |
|---|---|
| Format: | Journal Article |
| Published: |
Inderscience
2018
|
| Online Access: | http://hdl.handle.net/20.500.11937/22971 |
| _version_ | 1848751021958889472 |
|---|---|
| author | Duong, L. Wood, Lincoln Wang, W. |
| author_facet | Duong, L. Wood, Lincoln Wang, W. |
| author_sort | Duong, L. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper reviews research on single-echelon inventory management of perishable products using the continuous review model. A steady progression of research in this area has included of a range of parameters and is reachinga saturation point where models appear effective and cover a range of realistic situations for single-echelon management.However, research has rested on the assumption that a total cost or profit metric should be used when answering the replenishment questions of when and how much to order. This total cost/profit metric is less appropriate when considering a holistic or systemic modelling of the company where the balancein measurements between departments and the continuous improvement are priority. From this perspective, we outline concerns with existing approaches using a total cost/profit metric when applied to a company. Instead of using approximation methods to optimize total costs/profits in a single department, we assert that managers should focus on multi-metric performance measures to improve system-wide results.In this paper, we present a method to compare the single-echelon replenishment model using multi-metric performance measures and those with the traditional total cost/profit metric. |
| first_indexed | 2025-11-14T07:46:06Z |
| format | Journal Article |
| id | curtin-20.500.11937-22971 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:46:06Z |
| publishDate | 2018 |
| publisher | Inderscience |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-229712018-03-26T02:11:26Z A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model Duong, L. Wood, Lincoln Wang, W. This paper reviews research on single-echelon inventory management of perishable products using the continuous review model. A steady progression of research in this area has included of a range of parameters and is reachinga saturation point where models appear effective and cover a range of realistic situations for single-echelon management.However, research has rested on the assumption that a total cost or profit metric should be used when answering the replenishment questions of when and how much to order. This total cost/profit metric is less appropriate when considering a holistic or systemic modelling of the company where the balancein measurements between departments and the continuous improvement are priority. From this perspective, we outline concerns with existing approaches using a total cost/profit metric when applied to a company. Instead of using approximation methods to optimize total costs/profits in a single department, we assert that managers should focus on multi-metric performance measures to improve system-wide results.In this paper, we present a method to compare the single-echelon replenishment model using multi-metric performance measures and those with the traditional total cost/profit metric. 2018 Journal Article http://hdl.handle.net/20.500.11937/22971 10.1504/IJOR.2018.089734 Inderscience fulltext |
| spellingShingle | Duong, L. Wood, Lincoln Wang, W. A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title | A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title_full | A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title_fullStr | A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title_full_unstemmed | A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title_short | A Review and Reflection on Inventory Management of Perishable Products in a Single-echelon Model |
| title_sort | review and reflection on inventory management of perishable products in a single-echelon model |
| url | http://hdl.handle.net/20.500.11937/22971 |