Economics at your fingertips  

Multi-item imperfect production inventory model in Bi-fuzzy environments

Ashoke Kumar Bera () and Dipak Kumar Jana ()
Additional contact information
Ashoke Kumar Bera: Haldia Institue of Technology, Haldia
Dipak Kumar Jana: Haldia Institute of Technology, Haldia

OPSEARCH, 2017, vol. 54, issue 2, 260-282

Abstract: Abstract In this paper, we propose a mathematical model for a single period multi-product production inventory model producing stochastically imperfect items with continuous stochastic demand under budget and limited shortage constraints in Bi-fuzzy environment. The stochastic constraints are first converted into corresponding crisp values using expected value method. Here, we have considered the model as single period’s inventory for each item and the cycle lengths for different items are constant but different. Total demand for a cycle and the rate of production of defective units is considered as stochastic. The model is formulated and the expected average profits for each product are calculated from density function of demand and percentage of imperfectness in general form and then particular expressions are obtained by using appropriate boundary conditions. Here, all the constraints are Bi-fuzzy in nature and represented by possibility constraints. The deterministic problem is then solved by using generalized reduced gradient method. The model is illustrated through numerical examples. Sensitivity analysis on profit functions due to different aspiration and confidence level is presented via graphically.

Keywords: Inventory; Stochastic demand; Imperfect production; Bi-fuzzy; Possibility measure (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.springer. ... search/journal/12597

Access Statistics for this article

OPSEARCH is currently edited by Birendra Mandal

More articles in OPSEARCH from Springer, Operational Research Society of India
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2019-11-06
Handle: RePEc:spr:opsear:v:54:y:2017:i:2:d:10.1007_s12597-016-0283-4