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Title: An Approximate Net Profit Model for a Fixed-life Perishable Product in a Two-echelon Inventory System
Authors: Kanchanasuntorn, Kanchana 
Techanitisawad, Anulark 
Issue Date: 2007
Publisher: University of the Thai Chamber of Commerce
University of the Thai Chamber of Commerce
Source: Kanchana Kanchanasuntorn, Anulark Techanitisawad (2007) An Approximate Net Profit Model for a Fixed-life Perishable Product in a Two-echelon Inventory System. UTCC Engineering Research Papers.
Abstract: This paper further extends the existing cost modelfor a fixed-life perishable product in a two-echelon inventoryproblem into the net profit model. The extended model issubsequently evaluated by comparing its results with thoseobtained from OptQuest, a commercial simulationoptimizationpackage. Within a limited but reasonable time,the comparative results do not show a significantimprovement of using OptQuest, but do confirm that theproposed model can already provide quite good quality ofinventory control parameters for this system in a muchshorter computational time. With some simple modificationsto the proposed model, the model for slow-moving Poissondemand distribution for the two-echelon system is alsodeveloped and subsequently evaluated. The comparativeresults show that for the slow-moving demand, the Poissonmodel is more effective than the model with normalityassumption.
ISSN: 1906-1625
Rights: This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.
Appears in Collections:EN: Journal Articles

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