Perishable goods comprehend a large space daily marketing of goods. These kinds of goods ask a strict inventory control. Due to fast movement of these goods from distributer to retailer, it is necessary to have a command over the transportation system to maximize the profit. In this research, the transportation model has been mapped with the inventory model with time varying demand and two types of customers for different perishable goods to simultaneously maximize the revenue and minimize transportation and inventory cost, and hence maximizing the net profit. The model assumes fixed shortage, handling and outdating cost and selling price of goods decreases with time. An illustrative example is provided at the end to reveal the application of proposed methodology on a given system. Insight gained would be of much interest to the distributers of perishable goods in managing the inventory and transportation for same.
- Inventory control
- Perishable items
ASJC Scopus subject areas
- Industrial and Manufacturing Engineering
- Business, Management and Accounting(all)
- Management Science and Operations Research
- Economics and Econometrics