A bi-objective optimization model for a retail inventory system with perishable products

• Main Authors: Ching, Phoebe Mae, Cruz, Dennis, Jose, John Anthony C., Bandala, Argel A., Vicerra, Ryan Rhay P., Dadios, Elmer Jose P.
• Format: text
• Published: Animo Repository 2019
• Subjects: Perishable goods—Inventories; First in, first out (Accounting); Inventories—Accounting; Programming (Mathematics); Industrial Engineering
• Online Access: https://animorepository.dlsu.edu.ph/faculty_research/58; https://animorepository.dlsu.edu.ph/context/faculty_research/article/1057/type/native/viewcontent
• Institution: De La Salle University

For perishable inventories, cost alone is not a sufficient performance indicator. Minimizing costs can yield scenarios where demand is serviced with older units to allow for less frequent orders and maximize the utility of available inventories. This is contrary to the customers' needs, as peri...