Performance measures of nonstationary inventory models for perishable products under the EWA policy

Accurately estimating key performance indicators in inventory models for perishable items is essential in order to assess and improve the management strategy of these systems. We analyse the production of platelet concentrates at blood banks under the EWA replenishment policy. We give analytical app...

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Authors: Gorria, C., Lezaun, M., López, F. J.
Format: article
Status:Published version
Publication Date:2022
Country:España
Institution:Universidad de Zaragoza
Repository:Zaguán. Repositorio Digital de la Universidad de Zaragoza
OAI Identifier:oai:zaguan.unizar.es:151069
Online Access:http://zaguan.unizar.es/record/151069
Access Level:Open access
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spelling Performance measures of nonstationary inventory models for perishable products under the EWA policyGorria, C.Lezaun, M.López, F. J.Accurately estimating key performance indicators in inventory models for perishable items is essential in order to assess and improve the management strategy of these systems. We analyse the production of platelet concentrates at blood banks under the EWA replenishment policy. We give analytical approximations of the most important performance measures, such as the size of orders, the size of stocks, the percentage of outdating, the age distribution of stocks and the freshness of units issued, among others. The production of platelet concentrates is a prototypical example of inventory models for short life items with random demand and a weekly pattern, where a high service level is required. The methodology and the approximations presented here can be easily adapted to other inventory systems with similar characteristics. Most of the formulae in this article are new for nonstationary models under the EWA policy; indeed, formulae for the age distribution of units in stock and of units issued have not appeared in the literature even for the simpler base-stock replenishment policy. We apply our results to a real blood bank and find very close agreement between the formulae and the results of Monte Carlo simulations. The accuracy of our approximations is also tested in several scenarios, depending on the lifetime of units, safety stock levels and the probabilistic distribution of demand. © 2022 The Author(s)2022info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://zaguan.unizar.es/record/151069reponame:Zaguán. Repositorio Digital de la Universidad de Zaragozainstname:Universidad de ZaragozaInglésinfo:eu-repo/grantAgreement/ES/MICINN-AEI/PID2020-116873GB-I00info:eu-repo/semantics/openAccessoai:zaguan.unizar.es:1510692026-05-29T13:59:51Z
dc.title.none.fl_str_mv Performance measures of nonstationary inventory models for perishable products under the EWA policy
title Performance measures of nonstationary inventory models for perishable products under the EWA policy
spellingShingle Performance measures of nonstationary inventory models for perishable products under the EWA policy
Gorria, C.
title_short Performance measures of nonstationary inventory models for perishable products under the EWA policy
title_full Performance measures of nonstationary inventory models for perishable products under the EWA policy
title_fullStr Performance measures of nonstationary inventory models for perishable products under the EWA policy
title_full_unstemmed Performance measures of nonstationary inventory models for perishable products under the EWA policy
title_sort Performance measures of nonstationary inventory models for perishable products under the EWA policy
dc.creator.none.fl_str_mv Gorria, C.
Lezaun, M.
López, F. J.
author Gorria, C.
author_facet Gorria, C.
Lezaun, M.
López, F. J.
author_role author
author2 Lezaun, M.
López, F. J.
author2_role author
author
description Accurately estimating key performance indicators in inventory models for perishable items is essential in order to assess and improve the management strategy of these systems. We analyse the production of platelet concentrates at blood banks under the EWA replenishment policy. We give analytical approximations of the most important performance measures, such as the size of orders, the size of stocks, the percentage of outdating, the age distribution of stocks and the freshness of units issued, among others. The production of platelet concentrates is a prototypical example of inventory models for short life items with random demand and a weekly pattern, where a high service level is required. The methodology and the approximations presented here can be easily adapted to other inventory systems with similar characteristics. Most of the formulae in this article are new for nonstationary models under the EWA policy; indeed, formulae for the age distribution of units in stock and of units issued have not appeared in the literature even for the simpler base-stock replenishment policy. We apply our results to a real blood bank and find very close agreement between the formulae and the results of Monte Carlo simulations. The accuracy of our approximations is also tested in several scenarios, depending on the lifetime of units, safety stock levels and the probabilistic distribution of demand. © 2022 The Author(s)
publishDate 2022
dc.date.none.fl_str_mv 2022
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dc.identifier.none.fl_str_mv http://zaguan.unizar.es/record/151069
url http://zaguan.unizar.es/record/151069
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv info:eu-repo/grantAgreement/ES/MICINN-AEI/PID2020-116873GB-I00
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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dc.source.none.fl_str_mv reponame:Zaguán. Repositorio Digital de la Universidad de Zaragoza
instname:Universidad de Zaragoza
instname_str Universidad de Zaragoza
reponame_str Zaguán. Repositorio Digital de la Universidad de Zaragoza
collection Zaguán. Repositorio Digital de la Universidad de Zaragoza
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