Optimal Inventory Strategies for Deteriorating Items with Price Sensitive Investment in Preservation Technology

This paper gives a detailed look at studies about managing stock for items that can spoil, where the rate of spoilage can be slowed down by spending on preservation methods. It focuses on models that consider how price affects demand and investment in preservation, showing real-life situations. The paper sorts the models, explains their basic ideas, looks at common methods used, and points out important areas that need more research. This paper looks at the increasing research on managing stock for items that can spoil, focusing on models that include cost-sensitive ways to keep these items fresh. We analyzed the old published paper, sorting them by how demand works, how spoilage is modeled, costs of investment, and methods for finding solutions. The review points out important missing areas, especially in random modeling and eco-friendly preservation methods. We suggest future research paths to fill these gaps using combined optimization and up-to-date data.