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Periodic review fuzzy inventory model with variable lead time and fuzzy demand

Title
Periodic review fuzzy inventory model with variable lead time and fuzzy demand
Author
Sarkar, Biswajit
Keywords
periodic review inventory; lost-sales rate; fuzzy demand; distribution-free approach
Issue Date
2017-11
Publisher
WILEY-BLACKWELL
Citation
INTERNATIONAL TRANSACTIONS IN OPERATIONAL RESEARCH, v. 24, No. 5, Page. 1197-1227
Abstract
This paper investigates a periodic review fuzzy inventory model with lead time, reorder point, and cycle length as decision variables. The main goal of this study is to minimize the expected total annual cost by simultaneously optimizing cycle length, reorder point, and lead time for the whole system based on fuzzy demand. Two models are considered in this paper: one with normal demand distribution and another with a distribution-free approach. The model assumes a logarithmic investment function for lost-sale rate reduction. Furthermore, two separate efficient computational algorithms are explained to obtain the optimal solution. Some numerical examples are given to illustrate the model.
URI
https://onlinelibrary.wiley.com/doi/abs/10.1111/itor.12177https://repository.hanyang.ac.kr/handle/20.500.11754/103753
ISSN
0969-6016; 1475-3995
DOI
10.1111/itor.12177
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > INDUSTRIAL AND MANAGEMENT ENGINEERING(산업경영공학과) > Articles
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