Inventory management for food and beverage: A case study of Annam fine food

Abstract

One of the most difficult tasks for retail units is determining how much of each type of product, which has its own distinct sell-by date, should be ordered in order to minimize the total cost of the system as a whole, which includes the cost of shortages. This is one of the most important aspects in determining how much of each type of product should be ordered. Using the First Expired-First Out (FEFO) principle as its foundation, this research investigates a new multi-product multi-period replenishment challenge for a warehouse management system. After the nonlinear model that has been proposed has been translated into a computer language, the equations can then be solved with the help of Cplex. The results of the computations reveal that the suggested model can be applied to perishable goods, and comparing these results demonstrates that the suggested metaheuristics are effective.