Optimal inventory control policies for avoiding food waste

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Title

Optimal inventory control policies for avoiding food waste (EN)

Creator

Ζοπουνιδης Κωνσταντινος (EL)

Vlachos Dimitrios (EN)

Mallidis Ioannis (EN)

Yakavenka Volha (EN)

Sariannidis Nikolaos (EN)

Aifadopoulou Georgia (EN)

Zopounidis Konstantinos (EN)

Type

journalArticle

Partial document
Publication in journal (EN)

Article
Scientific article (EN)

Issued

2022

Year

2022 (EN)

Description

We develop and employ a socially responsible inventory model that determines an optimal order quantity and an optimal time instance of donation, taking into account, expectations on the net stock levels at the end of the order cycles. The optimized results of the policy are compared to those derived from the implementation of two currently applied policies namely the non-donation policy and the naive policy which involves the donation of a fixed amount of the company’s produce. A main insight revealed through the implementation of the proposed policies in a numerical experimentation indicates that the employment of the proposed donation policy could potentially lead to significantly higher expected profits compared to the other two policies. (EN)

Subject

Food waste (EN)

Donation (EN)

Inventory policies (EN)

Journal

Operational Research - An International Journal (EN)

Language

English

Publisher

Springer Nature (EN)

School / Department / Institute

Πολυτεχνείο Κρήτης (EL)