 Normally, the real-world inventory control problems are imprecisely defined and human interventions are often required to solve these decision-making problems. In this paper, a realistic inventory model with imprecise inventory costs have been formulated for deteriorating items under trade credit policy within the economic production quantity (EPQ) framework. We assume that the supplier would...

Newsboy models have wide applications in solving real-world inventory problems. This paper analyzes the optimal inventory policy for the single-order newsboy problem with fuzzy demand and quantity discounts. The availability of the quantity discount causes the analysis of the associated model to be more complex, and the proposed solution is based on the ranking of fuzzy numbers and optimization...

This paper investigates the economic order quantity (EOQ) — based inventory model for a retailer under two levels of trade credit to reflect the supply chain management situation in the fuzzy sense. It is assumed that the retailer maintains a powerful position and can obtain the full trade credit offered by the supplier yet the retailer just offers a partial trade credit to customers. The deman...

This paper presents a bi-objective vendor managed inventory (BOVMI) model for a supply chain problem with a single vendor and multiple retailers, in which the demand is fuzzy and the vendor manages the retailers’ inventory in a central warehouse. The vendor confronts two constraints: number of orders and available budget. In this model, the fuzzy demand is formulated using trapezoidal fuzzy num...

The hybrid metaheuristics algorithms (HMHAs) have gained a considerable attention for their capability to solve difficult problems in different fields of science. This chapter introduces some applications of HMHAs in solving inventory theory problems. Three basic inventory problems, joint replenishment EOQ problem, newsboy problem, and stochastic review problem, in certain and uncertain environ...

An inventory model for deteriorating items over a fuzzy random planning horizon incorporating inflation and time value of money is studied. It is assumed that planning horizon follows exponential distribution with imprecise parameter. The model is formulated using cost minimization principle. As the fuzzy cost cannot be minimized directly, the possibilistic mean value of the fuzzy cost is found...

A fuzzy inventory model with price dependent demand is considered. The shortages are allowed . The objective is to determine the optimal total cost and the optimal time length of the plan for the proposed model. The trapezoidal fuzzy numbers are introduced to achieve this objective. The signed distance method is used for defuzzification process. To illustrate the results of this model, sensitiv...

In this paper, we consider fuzzy inventory with backorder. First, we fuzzify the storing cost a, backorder cost b, cost of placing an order c, total demand r, order quantity q, and shortage quantity s as the triangular fuzzy numbers in the total cost. From these, we can obtain the fuzzy total cost. Using the signed distance method to defuzzify, we get the estimate of the total cost in the fuzzy...

in this paper, the researchers present a multi-objective linear fractional inventory model using fuzzy pro-gramming. the proposed method in this paper is applied to a problem with two objective functions. the re-sulted fuzzy model is transformed into an ordinary linear programming. the implementation of the develop-ing model presented in this paper is demonstrated through the use of some numeri...