Application of minimax distribution free procedure and Chebyshev inequality for backorder discount inventory model with effective investment to reduce lead-time and defuzzification by signed distance method (Q2627345)
From MaRDI portal
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Application of minimax distribution free procedure and Chebyshev inequality for backorder discount inventory model with effective investment to reduce lead-time and defuzzification by signed distance method |
scientific article |
Statements
Application of minimax distribution free procedure and Chebyshev inequality for backorder discount inventory model with effective investment to reduce lead-time and defuzzification by signed distance method (English)
0 references
31 May 2017
0 references
Summary: This paper considers the mixture inventory model involving variable lead-time with discounted backorder model. We first fuzzify the demand rate, based on triangular fuzzy number and obtain the total cost in the fuzzy sense. Defuzzification of expected annual cost is performed by signed distance. We provide a solution procedure to find the optimal values of lead-time, order quantity and backorder price discount by using minimax distribution free approach and Chebyshev inequality. We also prove the concavity and convexity of the estimate of total variable cost per unit time in fuzzy sense. Through numerical example, it is shown that there is a significant saving in cost due to crashing cost to reduce the lead-time.
0 references
signed distance
0 references
Chebyshev inequality
0 references
minimax distribution free procedure
0 references
imprecise demand
0 references
backorder discount
0 references
inventory modelling
0 references
lead time reduction
0 references
defuzzification
0 references
fuzzy numbers
0 references