Abstract

AbstractA fuzzy inventory model without or with shortage is considered. A new procedure is proposed for finding optimal solutions to the fuzzy inventory model based on the fuzzy differentiation and the ranking of fuzzy numbers. Numerical examples are taken to illustrate the procedure of finding the optimal solutions. The proposed procedure can help the managers to take concrete decision regarding inventory, as the data available to them are not certain in business and industry.KeywordsFuzzy inventory modelsTriangular fuzzy numbersEconomic order quantityOptimal maximal stock quantityOptimal total fuzzy inventory cost

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.