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http://hdl.handle.net/10125/50041RFID-Enabled Management of Highly-Perishable Inventory: A Markov Decision Process Approach for Grocery Retailers
| File | Size | Format | ||
|---|---|---|---|---|
| paper0154.pdf | 933.17 kB | Adobe PDF | View/Open |
Item Summary
| Title: | RFID-Enabled Management of Highly-Perishable Inventory: A Markov Decision Process Approach for Grocery Retailers |
| Authors: | Siawsolit, Chokdee Gaukler, Gary Seepun, Sarun |
| Keywords: | Intelligent Decision Support for Logistics and Supply Chain Management inventory, Markov chain, optimal policy, perishable, RFID or inventory, Markov, optimization, perishable, RFID |
| Date Issued: | 03 Jan 2018 |
| Abstract: | We address the challenge of managing perishable inventory. One study was conducted to analyze the effects of recapturing unsatisfied demand, and another to estimate improvements in operational metrics through delaying order placements. Our results indicate that significant profit improvements can be achieved under these scenarios, as evidenced by a greater than 30% median increase in profit margin. |
| Pages/Duration: | 10 pages |
| URI: | http://hdl.handle.net/10125/50041 |
| ISBN: | 978-0-9981331-1-9 |
| DOI: | 10.24251/HICSS.2018.154 |
| Rights: | Attribution-NonCommercial-NoDerivatives 4.0 International https://creativecommons.org/licenses/by-nc-nd/4.0/ |
| Appears in Collections: |
Intelligent Decision Support for Logistics and Supply Chain Management |
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