Multiple-stage Ordering Policy For Perishable Goods Under Bayesian Demad Updating

Since Geroge Stalk proposed Time-based competition in 1980s, people recognized that time has become more and more important on competitiveness besides cost, quality or scale. In the modern world, Time based competition has become to be a critical method that can be implemented by the quick response strategy to improve competitiveness. Under the environment of quick response, perishable goods which has short life-cycle and short shelf life has become popularized in our daily life. Static ordering policy which based on classical stochastic inventory model before can not effectively solve the inventory issues of perishable goods. Now, two-stage ordering policy which based on information updating has become a effective method to solve this problem, it also attracts more and more attention of entrepreneurs and scholars.With the object of perishable goods, we study the multi-stage order strategy of perishable goods under information updating based on Bayesian. And we expected to achieve the optimal two and multi-stage order strategy by updating information for two and more times under the Bayesian-related theory. The main content is as follows:firstly, we respectively discuss the two-stage order strategy from the single node and two in supply chain. Secondly, we study the two-stage order strategy issues when there are many production modes available. Thirdly, we study three-stage ordering policy under discrete information. Numerical study is also offered for the ordering strategy. And the results suggest that, compared with the traditional static ordering policy, the multi-stage ordering strategy under information updating can effectively solve the inventory issues for perishable goods, and order costs is a critical factor in implementing the ordering policy on each stage.