A partial backlogging inventory model for deteriorating item under fuzzy inflation and discounting over random planning horizon: a fuzzy genetic algorithm approach
Summary: An inventory model for deteriorating item is considered in a random planning horizon under inflation and time value money. The model is described in two different environments: random and fuzzy random. The proposed model allows stock-dependent consumption rate and shortages with partial backlogging. In the fuzzy stochastic model, possibility chance constraints are used for defuzzification of imprecise expected total profit. Finally, genetic algorithm (GA) and fuzzy simulation-based genetic algorithm (FSGA) are used to make decisions for the above inventory models. The models are illustrated with some numerical data. Sensitivity analysis on expected profit function is also presented. Scope and Purpose. The traditional inventory model considers the ideal case in which depletion of inventory is caused by a constant demand rate. However, to keep sales higher, the inventory level would need to remain high. Of course, this would also result in higher holding or procurement cost. Also, in many real situations, during a longer-shortage period some of the customers may refuse the management. For instance, for fashionable commodities and high-tech products with short product life cycle, the willingness for a customer to wait for backlogging is diminishing with the length of the waiting time. Most of the classical inventory models did not take into account the effects of inflation and time value of money. But in the past, the economic situation of most of the countries has changed to such an extent due to large-scale inflation and consequent sharp decline in the purchasing power of money. So, it has not been possible to ignore the effects of inflation and time value of money any more. The purpose of this paper is to maximize the expected profit in the random planning horizon.
- An inventory model for a deteriorating item with displayed stock dependent demand under fuzzy inflation and time discounting over a random planning horizon
- An inventory model for deteriorating items with fuzzy random planning horizon
- Two storage inventory model with fuzzy deterioration over a random planning horizon
- Fuzzy rough supply chain model under inflation and credit period with stock dependent consumption rate and partial backlogging shortages via genetic algorithm
- A production-inventory model for a deteriorating item incorporating learning effect using genetic algorithm
- A fuzzy genetic algorithm with varying population size to solve an inventory model with credit-linked promotional demand in an imprecise planning horizon
- A fuzzy-based lifetime extension of genetic algorithms
- A genetic algorithm for the flexible job-shop scheduling problem
- A new tool in electrostatics using a really-coded multipopulation genetic algorithm tuned through analytical test problems
- A note on optimal inventory management under inflation
- A numerical approach to a multi-objective optimal inventory control problem for deteriorating multi-items under fuzzy inflation and discounting
- A production-inventory model for a deteriorating item incorporating learning effect using genetic algorithm
- A two warehouse supply-chain model under possibility/ necessity/credibility measures
- An inventory model for a deteriorating item with displayed stock dependent demand under fuzzy inflation and time discounting over a random planning horizon
- Chance constrained programming with fuzzy parameters
- Fuzzy inventory model with two warehouses under possibility constraints
- Fuzzy sets and systems. Theory and applications
- scientific article; zbMATH DE number 107465 (Why is no real title available?)
- Partial backlogging inventory lot-size models for deteriorating items with fluctuating demand under inflation
- Two storage inventory model with fuzzy deterioration over a random planning horizon
- Fuzzy rough supply chain model under inflation and credit period with stock dependent consumption rate and partial backlogging shortages via genetic algorithm
- Optimizing an inventory model with fuzzy demand, backordering, and discount using a hybrid imperialist competitive algorithm
- Two storage inventory model with fuzzy deterioration over a random planning horizon
- A genetic algorithm for an inventory system under belief structure inflationary conditions
- An inventory model for deteriorating items with fuzzy random planning horizon
- An inventory model for a deteriorating item with displayed stock dependent demand under fuzzy inflation and time discounting over a random planning horizon
This page was built for publication: A partial backlogging inventory model for deteriorating item under fuzzy inflation and discounting over random planning horizon: a fuzzy genetic algorithm approach
Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2248699)
