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.
| Original language | English |
|---|---|
| Pages (from-to) | 1197-1227 |
| Number of pages | 31 |
| Journal | International Transactions in Operational Research |
| Volume | 24 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 2017 Sept |
Bibliographical note
Publisher Copyright:© 2015 The Authors. International Transactions in Operational Research © 2015 International Federation of Operational Research Societies Published by John Wiley & Sons Ltd, 9600 Garsington Road, Oxford OX4 2DQ, UK and 350 Main St, Malden, MA02148, USA.
All Science Journal Classification (ASJC) codes
- Business and International Management
- Computer Science Applications
- Strategy and Management
- Management Science and Operations Research
- Management of Technology and Innovation