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Inventory management and delivery of perishable products with stochastic demands and risks consideration.
- Source :
- Procedia Computer Science; 2024, Vol. 232, p2941-2949, 9p
- Publication Year :
- 2024
-
Abstract
- In the agri-food supply chain, the perishable nature of the commodities opens a series of challenges at all decision levels: strategical, tactical and operational. This paper presents an age-based model for the inventory-routing problem of perishable commodities with stochastic demands. To deal with this source of uncertainty, the conditional value-at-risk (CVaR) has been adopted as a risk measure, and then the model has been applied to the agri-food supply chain under investigation. The model is the core of a dynamic approach for the optimal distribution and inventory planning over a short-medium horizon. To address a problem as realistic as possible, we assume that the demand for products of each age is unknown and we model this uncertainty by means of random variables with a probability distribution that can be estimated from historical data. Computational experiments on test cases based on a real-life agri-food company located in Italy show the effectiveness of the proposed approach for evaluating different risk attitudes. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 18770509
- Volume :
- 232
- Database :
- Supplemental Index
- Journal :
- Procedia Computer Science
- Publication Type :
- Academic Journal
- Accession number :
- 176148974
- Full Text :
- https://doi.org/10.1016/j.procs.2024.02.110