Fuzzy periodic review system with fuzzy random variable demand

Oshmita Dey and Debjani Chakraborty

European Journal of Operational Research, 2009, vol. 198, issue 1, 113-120

Abstract: In this paper, a periodic review inventory system has been analyzed in a mixed imprecise and uncertain environment where fuzziness and randomness appear simultaneously. A model has been developed with customer demand assumed to be a fuzzy random variable. The lead-time has been assumed to be a constant. The lead-time demand and the lead-time plus one period's demand have also been assumed to be fuzzy random variables. A methodology has been developed to determine the optimal inventory level and the optimal period of review such that the total expected annual cost in the fuzzy sense is minimized. A numerical example has been presented to illustrate the model.

Keywords: Fuzzy; sets; Periodic; review; system; Fuzzy; random; variable; Possibilistic; mean; value (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:198:y:2009:i:1:p:113-120

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