EOQ FOR PERISHABLE GOODS: MODIFICATION OF WILSON’S MODEL FOR FOOD RETAILERS

A timely response to a fluctuating and ever-changing consumer demand is an important decision for a company, as it may impact its position in the market. Thus, proper inventory management becomes a focal point in retail business process management and can provide a substantial competitive advantage. In this paper, we introduce a modified version of Wilson’s model, which takes into account trends in consumer demand and offer flexibility in...