INVENTORY MANAGEMENT OF PRODUCTS WITH A LIMITED SHELF LIFE IN CONDITIONS OF DEMAND UNCERTAINTY

Abstract: The article discusses the process of replenishing stocks of a single product by a trading organization. It is assumed that the product has a limited shelf life, after which it is removed from circulation (disposed of without additional costs, disposed of at additional costs, sold at a reduced price). The question is raised about finding an economically feasible volume and time for replenishing stocks. The uncertainty factor of the model is demand, which is described by a random variable with a known distribution. The distribution of a random demand variable can be either static or have a dynamic dependence on time. A criterion for the economic efficiency of a new supply of goods has been introduced, namely, the mathematical expectation of the density of the profit flow from the sale of a new batch is maximized. A simulation model has been built that allows optimization according to this criterion based on the variables delivery volume and delivery time. Numerical examples of calculations are given based on the software implementation of the proposed optimization model.

Keywords: inventory management, shelf life, uncertain demand, order volume, delivery time, profit flow density.