Article ID: | iaor19992191 |
Country: | Netherlands |
Volume: | 106 |
Issue: | 1 |
Start Page Number: | 90 |
End Page Number: | 94 |
Publication Date: | Apr 1998 |
Journal: | European Journal of Operational Research |
Authors: | Ishii Hiroaki, Konno Tutomu |
Keywords: | fuzzy sets |
Up to now, many inventory models have been considered in the literature. Some assume stochastic demands and others consider the deterministic case. Though they include a shortage cost due to lost sales, it is usually assumed to be known concretely and a priori. This paper introduces fuzziness of shortage cost explicitly into the classical newsboy problem. That is, we investigate the so-called fuzzy newsboy problem where its shortage cost is vague and given by an