Computational approach to fuzzified profit optimisation of inventory flow in supply chain with deteriorating items

S.S. Mishra, Dinesh K. Sharma, S.K. Yadav and S. Rawat

International Journal of Operational Research, 2017, vol. 30, issue 1, 83-98

Abstract: In this paper, we make a fresh attempt to discuss fuzzified profit optimisation of inventory in supply chain with deterioration and power form stock dependent demand. After applying Zadeh's extension principle and centroid method, a system of nonlinear equation has been developed and consequently solved by using fast converging Newton-Raphson (N-R) method. The optimum profit of a fuzzified inventory control system as an important performance measure has been computed and sensitivity analysis has been also presented to demonstrate the use of the model under consideration.

Keywords: fuzzified profit optimisation; inventory flow in supply chain; system of nonlinear equations and its computing. (search for similar items in EconPapers)
Date: 2017
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