A multi-product newsboy problem with fuzzy customer demand and a storage space constraint (Q991865): Difference between revisions
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Latest revision as of 09:13, 30 July 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A multi-product newsboy problem with fuzzy customer demand and a storage space constraint |
scientific article |
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A multi-product newsboy problem with fuzzy customer demand and a storage space constraint (English)
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8 September 2010
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Summary: This article provides a fuzzy inventory model for multi-product newsboy problem subject to a storage space constraint. Common characteristics of inventory systems include uncertain demand. Several authors have examined constrained multi-item newsboy problem with stochastic demand. In this paper, a model for cases of fuzzy demands is constructed. The objective is to maximise the total resultant profit by considering fuzzy demands together with a storage space constraint. The optimisation is achieved using interval-valued expectation of a fuzzy number. Based on the bisection method, an efficient iterative algorithm is adopted to identify the optimal order quantities. The optimality conditions are justified through a numerical example.
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fuzzy demand
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interval-valued expectation
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inventory modelling
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newsboy problem
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customer demand
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storage space constraints
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stochastic demand
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inventory management
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