The problem of determining the economic order quantity has long
attracted the attention of researchers, and several models have been
developed to meet requirements under different circumstances at minimum
cost. In the present paper, we conduct a structural content analysis of
317 selected peer-reviewed research articles that were published during
the period 2001-2018 and ranked with a quartile score of Q1 by either
ISI or Scopus database. By discussing the main topics of the inventory
modeling literature, we provide a comprehensive view of the past
research dealing with the management of deteriorating items. Here, we
focus on items undergoing physical modification during the planning
period, which encompasses a wide variety of products such as fresh
produce, processed food, pharmaceuticals and blood products. Therefore,
based on our holistic analysis, we identify new trends and we highlights
crucial research opportunities to develop more comprehensive and
practical models.