Title:
Information Sharing to Improve Retail Product Freshness of Perishables (ed.2)

dc.contributor.author Ferguson, Mark E. en_US
dc.contributor.author Ketzenberg, Michael E. en_US
dc.date.accessioned 2005-08-01T17:45:42Z
dc.date.available 2005-08-01T17:45:42Z
dc.date.issued 2005-05-30 en_US
dc.description.abstract We explore the value of information (VOI) in the context of a retailer that provides a perishable product to consumers and receives replenishment from a single supplier. We assume a periodic review model with stochastic demand, lost sales, and order quantity restrictions. The product lifetime is fixed and deterministic once received by the retailer, although the age of replenished items provided by the supplier varies stochastically over time. Since the product is perishable, any unsold inventory remaining after the lifetime elapses must be discarded outdated). Without the supplier explicitly informing the retailer of the product age, the age remains unknown until receipt. With information sharing, the retailer is informed of the product age prior to placing an order and hence can utilize this information in its decision making. We formulate the retailer's replenishment policies, with and without knowing the age of the product upon receipt, and measure the VOI as the marginal improvement in profit that the retailer achieves with information sharing, relative to the case when no information is shared. We establish the importance of information sharing and identify the conditions under which substantial benefits can be realized. en_US
dc.format.extent 306558 bytes
dc.format.mimetype application/pdf
dc.identifier.uri http://hdl.handle.net/1853/7079
dc.language.iso en_US en_US
dc.publisher Georgia Institute of Technology en_US
dc.relation.isreplacedby http://hdl.handle.net/1853/10767
dc.relation.replaces http://hdl.handle.net/1853/3211 en_US
dc.subject Value of information en_US
dc.subject Inventory management en_US
dc.subject Perishable inventory en_US
dc.title Information Sharing to Improve Retail Product Freshness of Perishables (ed.2) en_US
dc.type Text
dc.type.genre Working Paper
dspace.entity.type Publication
local.contributor.corporatename Scheller College of Business
relation.isOrgUnitOfPublication a2f83831-ae41-4d65-82ff-c8bf95db4ffb
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