RFID-Enabled Management of Highly-Perishable Inventory: A Markov Decision Process Approach for Grocery Retailers

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dc.contributor.author Siawsolit, Chokdee
dc.contributor.author Gaukler, Gary
dc.contributor.author Seepun, Sarun
dc.date.accessioned 2017-12-28T00:46:24Z
dc.date.available 2017-12-28T00:46:24Z
dc.date.issued 2018-01-03
dc.description.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.
dc.format.extent 10 pages
dc.identifier.doi 10.24251/HICSS.2018.154
dc.identifier.isbn 978-0-9981331-1-9
dc.identifier.uri http://hdl.handle.net/10125/50041
dc.language.iso eng
dc.relation.ispartof Proceedings of the 51st Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject Intelligent Decision Support for Logistics and Supply Chain Management
dc.subject inventory, Markov chain, optimal policy, perishable, RFID or inventory, Markov, optimization, perishable, RFID
dc.title RFID-Enabled Management of Highly-Perishable Inventory: A Markov Decision Process Approach for Grocery Retailers
dc.type Conference Paper
dc.type.dcmi Text
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