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

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dc.contributor.authorSiawsolit, Chokdee
dc.contributor.authorGaukler, Gary
dc.contributor.authorSeepun, Sarun
dc.date.accessioned2017-12-28T00:46:24Z
dc.date.available2017-12-28T00:46:24Z
dc.date.issued2018-01-03
dc.description.abstractWe 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.extent10 pages
dc.identifier.doihttps://doi.org/10.24251/HICSS.2018.154
dc.identifier.isbn978-0-9981331-1-9
dc.identifier.urihttp://hdl.handle.net/10125/50041
dc.language.isoeng
dc.relation.ispartofProceedings of the 51st Hawaii International Conference on System Sciences
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectIntelligent Decision Support for Logistics and Supply Chain Management
dc.subjectinventory, Markov chain, optimal policy, perishable, RFID or inventory, Markov, optimization, perishable, RFID
dc.titleRFID-Enabled Management of Highly-Perishable Inventory: A Markov Decision Process Approach for Grocery Retailers
dc.typeConference Paper
dc.type.dcmiText

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