What is Perisability?

Answer 1

Perishability refers to the characteristic of certain products or services that cannot be stored or inventoried and must be consumed at the time of production. This concept is primarily associated with services, such as hospitality or entertainment, where unused capacity (e.g., empty hotel rooms or unsold concert tickets) cannot be reclaimed once the opportunity has passed. Consequently, businesses in perishable sectors must manage demand and supply effectively to minimize waste and maximize revenue.