Which retail strategy for shelf life products can satisfy consumers under game policy?

Under the game competition, it is very difficult to maintain all retail strategies for shelf life fast-moving consumer (FMCG) goods products with the random demand. Due to random demand, a truncated distribution is, a conditional distribution, generated by constraining the domain of another probability distribution. This study focuses on retail management in the service sector of a manufacturer and retailer. The demand rate and ordering quantity are probabilistic and follow a doubly truncated exponential distribution with a short shelf life, but it can be extended using specific preservative measures. The model considers shelf life as a decision variable and addresses products with an extendable shelf life. The mathematical representation of the model is provided to determine the optimal policy for production and replenishment in a Nash equilibrium decentralized game. The concept is demonstrated using mushrooms as an example of fast-moving consumer goods, and results suggest that the retailer can increase their profits by extending the product's shelf life by 4.2 days beyond its original shelf life which is 2 days.