An Efficient Inventory Model-Based GA For Food Deterioration Products In The Tourism Industry

Background: The inventory control practice of deteriorating food products that are subject to an expiration date is a challenging process. Inappropriate inventory control practice leads to substantial waste of products and significant holding and purchasing costs. Purpose: This paper aims to develop an inventory control model-based Genetic Algorithm (GA) to minimize the Total Annual Inventory Cost (TAIC) function developed explicitly for the proposed model. Methodology: GA is used and tailored to provide the best reorder level of deteriorating food products. A case study of one of the five-star hotels in Iraq is conducted, followed by a sensitivity analysis study to validate the proposed model for varying reorder levels. Results and Conclusion: A minimum inventory cost is obtained with an optimum reorder level achieved by running GA. It is concluded that the optimal reorder level provided by the proposed GA minimized the monthly inventory cost of products

Business model innovation reshaping the grocery retail

Analisi dell'evoluzione portata nell'ambito del business modelope

Perishable Inventory Challenges

Part VI: Services, Supply Chains and OperationsInternational audienceThis paper is based on an exploratory research project into perishable inventory challenges in the retail industry. This paper investigates how inventory control of perishable items is managed and identifies the perishable inventory challenges. The paper includes a review of relevant literature and identification of models dealing with perishable inventory control. The paper is based on a case study in the retail industry in Denmark about how the current procedures are operating in the retail supply chain. Based on the case study and literature review it is found that product quality deterioration and the aftercare of the items in the retail stores are two important parameters in perishable inventories. Furthermore, the length of periods as well as the total cost and profit margin function of the inventory control models are does not often fit reality. Therefore there is a need for further research into models dealing with these parameters