A manufacturing inventory model with shortages with carrying cost, shortage cost, setup cost and demand quantity as imprecise numbers, instead of real numbers, namely interval number is considered here. First, a brief survey of the existing works on comparing and ranking any two interval numbers on the real line is presented. A common algorithm for the optimum production quantity (Economic lot-...

In this paper we develop procedures for setting the basestock levels for a buffer in a supply chain subject to uncertainty in the demands. Our work is motivated by experience with an industrial partner in the electronics industry who was subject to the following difficulties: short product cycles, a complex supply chain with multiple suppliers and long production leadtimes, and a very competiti...

In this paper we develop procedures for setting the basestock levels for a buffer in a supply chain subject to uncertainty in the demands. Our work is motivated by experience with an industrial partner in the electronics industry who was subject to the following difficulties: short product cycles, a complex supply chain with multiple suppliers and long production leadtimes, and a very competiti...

Inventory management is considered to be a very important area in Supply chain management. Efficient and effective management of inventory throughout the supply chain significantly improves the ultimate service provided to the customer. Hence, to ensure minimal cost for the supply chain, the determination of the inventory to be held at various levels in a supply chain is unavoidable. Minimizing...

Particle swarm optimization (PSO) has received increasing attention in solving multi-objective economic dispatch (ED) problems in power systems because of parallel computation, faster convergence, and easier implementation. This paper presents a detailed overview of multi-objective particle swarm optimization (MOPSO) and provides a comprehensive survey on its applications in power system econom...

Remanufacturing activity views the reverse supply chain of reclaimed goods as integral to the traditional supply chain to the consumer. At the end of the useful life of products, a reverse supply process is activated in which unwanted materials and products are recovered from end users to recapture some of their value. Therefore, planning for the traditional supply chain of goods must take into...

In economic order quantity models without backordering, both the stock cost of each unit quantity and the order cost of each cycle are characterized as independent fuzzy variables rather than fuzzy numbers as in previous studies. Based on an expected value criterion or a credibility criterion, a fuzzy expected value model and a fuzzy dependent chance programming (DCP) model are constructed. The...

Globalization is putting enormous pressure on the business organizations specially manufacturing one to rethink the supply chain in innovative manners. Inventory consumes major portion of total sale revenue. Effective and efficient inventory management plays a vital role for the successful functioning of any organization. Selection of inventory policy is one of the important purchasing activiti...

Traditionally, supply chain planning problems consider variables with uncertainty associated with uncontrolled factors. These factors have been normally modelled by complex methodologies where the seeking solution process often presents high scale of difficulty. This work presents the fuzzy set theory as a tool to model uncertainty in supply chain planning problems and proposes the particle swa...