Forecasting Methods and Optimization Models for the Inventory Management of Perishable Products: The Case of “La Centrale del Latte di Vicenza SpA”

This paper is a report on a joint project by the Department of Management, Economics and Quantitative Methods of the University of Bergamo (in collaboration with the Department of Economics and Management of the University of Brescia) and the Italian company “La Centrale del Latte di Vicenza SpA” producing different types of milk, yogurt, vegetable drinks, cream, butter, cheese, eggs and vegetables. The aim of the project was to provide forecasting methods and optimization models, to improve the demand forecasts of perishable products and to better manage inventory levels in a Material Requirements Planning (MRP) setting.