The newsvendor model is a classic approach to determining how to set appropriate inventory levels for products whose value is perishable. While the newsvendor analysis does not yield the richness of data found in a simulation-based model, newsvendor analysis provides a relatively simple way to determine inventory levels.
Thompson, G. M. (2004). Tackling the investment decision as a “newsvendor problem”. Cornell Hospitality Quarterly, 48(1), 101-104. doi: 10.1177/0010880406297406