A multi-item fuzzy economic production quantity problem with a finite production rate

Kaj-Mikael Björk

International Journal of Production Economics, 2012, vol. 135, issue 2, 702-707

Abstract: Inventory Management and production planning are essential tasks for every company in the industry. Therefore, the development of a large set of Economic Order Quantity (EOQ) models is needed. In this paper, a fuzzy multi-item Economic Production Quantity (EPQ) model is developed. This paper contributes to the state-of-the-art with a theoretical study of a problem, where a company has to decide the size of some production batches under uncertain cycle times. The uncertainty will be handled with triangular fuzzy numbers and an analytical solution will be found to the optimization problem.

Keywords: Inventory management; EPQ-model; Production-inventory optimization; Supply chain management (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:135:y:2012:i:2:p:702-707

DOI: 10.1016/j.ijpe.2011.10.003

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