A simulation optimization framework is proposed for supply chain inventory management of highly perishable products. A new replenishment policy based on old inventory ratio is developed, hence called OIR policy. It is an age-based policy using only partial age information to measure the...

In this paper, the optimal replenishment policies of capacitated supply chains (SC) operating under two different control strategies (decentralized vs. centralized) and various demands are determined and insights useful to management are discussed. The details of the system used, including the...

This paper first proposes the use of metaheuristic, to combine with exponential smoothing methods, in forecasting future demands and in determining the optimal inventory policy values for each node in a supply chain network based on historical demand or order streams without the need of any...