Paper Info
Title
Perishable inventory management system with a minimum volume constraint.
Abstract
The federal government maintains large quantities of medical supplies in stock as part of its Strategic National Stockpile (SNS) to protect the American public in case of a public health emergency. Managing these large perishable inventories effectively can help reduce the cost of the SNS and improves national security. In this paper, we propose a modified Economic Manufacturing Quantity (EMQ) model for perishable inventory with a minimum volume constraint, which is applicable to managing the inventory of medicines for the Strategic National Stockpile. We demonstrate that minimizing the cost of maintaining such a system can be formulated as a non-convex non-smooth unconstrained optimization problem. The property of this model is analysed and an efficient exact algorithm is presented to solve this problem. In the numerical experiment part, we perform sensitivity analysis on several governmentcontrolled system parameters to illustrate how the government can obtain lower costs or a larger stockpile at the same cost by allowing more freedom in the management of the stocks. Journal of the Operational Research Society (2011) 62, 2063-2082. doi: 10.1057/jors.2010.181 Published online 29 December 2010
Year
DOI
Venue
2011
10.1057/jors.2010.181
JORS
Keywords
Field
DocType
information technology,public health,inventory,information systems,production,marketing,operational research,computer science,project management,location,scheduling,homeland security,national security,sensitivity analysis,reliability,emergency management,operations research,system engineering,logistics,management science,forecasting,communications technology,investment,industrial engineering
Information system,Stockpile,Exact algorithm,Computer science,Strategic National Stockpile,Operations research,Purchasing,Management system,Optimization problem,Management science,Operations management,Project management
Journal
Volume
Issue
ISSN
62
12
0160-5682
Citations 
PageRank 
References 
5
0.56
12
Authors
3
Name
Order
Citations
PageRank
Zhihong Shen1344.30
Maged Dessouky247939.53
Fernando Ordóñez31458.63