Fuzzy stochastic inventory model for deteriorating item

Authors

  • Rahul H. Waliv Faculty of Science, Kisan Veer Mahavidyalaya, Wai, Maharashatra, India
  • Hemant P. Umap Faculty of Science, Y.C.Institute of Sciences, Satara, Maharashatra, India

DOI:

https://doi.org/10.2298/YJOR150330010W

Keywords:

inventory model, stock dependent demand, fuzzy-stochastic programming, fuzzy linear programming

Abstract

A multi item profit maximization inventory model is developed in fuzzy stochastic environment. Demand is taken as Stock dependent demand. Available storage space is assumed to be imprecise and vague in nature. Impreciseness has been expressed by linear membership function. Purchasing cost and investment constraint are considered to be random and their randomness is expressed by normal distribution. The model has been formulated as a fuzzy stochastic programming problem and reduced to corresponding equivalent fuzzy linear programming problem. The model has been solved by using fuzzy linear programming technique and illustrated numerically.

References

Taleizadeh A. A., Niaki S.T.A., Aryanezhad M.B., Shafii N., “A hybrid method of fuzzy simulation and genetic algorithm to optimize constrained inventory control systems with stochastic replenishments and fuzzy demand”, Information Sciences, 220 (2013) 425-441.

Naserabadi B., Mirzazadeh A., Nodoust S., “A New Mathematical Inventory Model with Stochastic and Fuzzy Deterioration Rate under Inflation”, Chinese Journal of Engineering, Article ID 347857, 2014 (2014) 21-30.

Das B., Maiti M., “Fuzzy stochastic inequality and equality possibility constraints and their application in a production-inventory model via optimal control method”, Journal of Computational Science, 4 (2013) 360-369.

Panda D., Samarjit Kar, “Multi-item Stochastic and Fuzzy-Stochastic Inventory Models Under Imprecise Goal and Chance constraints”, Advanced Modeling and Optimization, 7 (2005) 155-167.

Panda D., Rong M., Maiti M., “Fuzzy mixture two warehouse inventory model involving fuzzy random variable lead time demand and fuzzy total demand”, Central European Journal of Operations Research, 22 (2014) 187-209.

Janaa D. K., Das B., Maiti M., “Multi-item partial backlogging inventory models over random planning horizon in random fuzzy environment”, Applied Soft Computing, 21 (2014) 12-27.

Goswami A, Chaudhuri K.S., “An EOQ model for deteriorating items with shortages and a linear trend in demand”, Journal of Operational Research Society, 42 (12) (1991) 1105-1110.

Das K., Roy T.K., Maiti M., “Multi-item stochastic and fuzzy-stochastic inventory models under two restrictions”, Computers & Operations Research, 31 (2004) 1793-1806.

Nayebi M.A., Sharifi M., Shahriari M.R., “Fuzzy-Chance Constrained Multi-Objective Programming Applications for Inventory Control Model”, Applied Mathematical Sciences, 6 (2012) 209-228.

Mandal S., Maity A.K., Maity K., Mondal S., Maiti M., “Multi-item multi-period optimal production problem with variable preparation time in fuzzy stochastic environment”, Applied Mathematical Modeling, 35 (2011) 4341-4353.

Downloads

Published

2017-02-01

Issue

Vol. 27 No. 1 (2017)

Section

Research Articles

License

Copyright (c) 2017 YUJOR

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.