Expiration dates and order quantities for perishables

We formulate the problem as a Markov Decision Process and also introduce two heuristic policies for the computation of order quantities and expiration dates that are of more practical relevance. We conduct an extensive simulation study, focusing on fresh packaged tomatoes as an illustrative example. Through this study, we evaluate the sensitivity of the computed expiration dates relative to the problem parameters and provide managerial insight into the role of expiration date setting for inventory control.