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Author/Affiliation: Phoebe Lim ChingOpen AccessArticle
13 Pages, 1,217 KB 
Assessment of the Quality and Sustainability Implications of FIFO and LIFO Inventory Policies through System Dynamics
Abstract:
Perishable inventory management contributes simultaneously to society and the economy, by reducing food wastage and capitalizing on the freshness of goods. For this reason, countless mathematical models have been developed for their effectiveness and cost-efficient management. Yet, the majority of these models can only optimize systems for a limited time frame, allowing for small gains…
Read More(This article belongs to the SP7 (Special Issue on Advancement in Engineering and Computer Science 2019) & Section Industrial Engineering (EID))