Efficient management of pasteurized fluid milk inventory is a need in the dairy industry to maximize profit. Beyond this, decreasing waste is a sustainability goal in the dairy market. Fresh milk is highly perishable and should be sold before it reaches its shelf life. The existing literature has long focused on deterministic models; however, supply chain uncertainties, demand fluctuations, and shelf-life variability have attracted attention recently. Optimization techniques and simulation models have complementary strengths that make stochastic inventory control easier to manage. Our study presents a simulation-optimization approach that combines a simple heuristic and simulations to develop robust inventory management strategies for managing multiple perishable commodities with fixed shelf life. The proposed approach aims to aid decision-makers in the dairy industry as a tool to manage perishable goods and efficiently promote sustainability in dairy marketing. We discuss a case study to reveal managerial insights from which the dairy and other perishable product industries can benefit.