Optimality of Myopic Policies in Disposing Excess Inventory
Operations Research · 1992 · Volume 40 · Issue 4
Abstract
In a recent article, the author presented results for the optimum levels of inventory to dispose and keep in an excess inventory situation. This note shows that these levels do not change when additional disposal opportunities are presented in the future. In this sense, the optimal policy is myopic in that the decision can be made without any examination of future decisions.
Keywords
inventory/production: perishable/aging items
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