A two-warehouse inventory model with stochastic demand, controllable lead time and fuzzy present value: a technique to deal with arbitrary fuzzy number

DOI10.1504/IJOR.2010.033138MaRDI QIDQ991864zbMATH OpenOpenAlexFDO

Authors Mahendra Rong, Manoranjan Maiti

Publication date 8 September 2010

Published in International Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1504/ijor.2010.033138

zbMATH Keywords

arbitrary fuzzy numbersinterest ratesinventory modellinglead timesnonlinear optimisationpresent valuestochastic demandtriangular-trapezoidal approximationtwo warehouse inventory management

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Review text

Summary: In this paper, a two-warehouse inventory management policy is presented for stochastic demand with controllable lead time. Three inventory models are presented with and without the change in money value which is taken into account with constant or fuzzy interest rate where impreciseness is of arbitrary nature. In all these cases, average cost functions are derived and solved using a gradient based non-linear optimisation technique (LINGO).

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