Duan, Qinglin; Liao, T. Warren - In: International Journal of Production Economics 145 (2013) 2, pp. 658-671
A simulation optimization framework is proposed for supply chain inventory management of highly perishable products. A … new replenishment policy based on old inventory ratio is developed, hence called OIR policy. It is an age-based policy … using only partial age information to measure the freshness of the entire inventory. The efficiency of the new policy is …