Article ID: | iaor20023109 |
Country: | United Kingdom |
Volume: | 29 |
Issue: | 5 |
Start Page Number: | 471 |
End Page Number: | 487 |
Publication Date: | Apr 2002 |
Journal: | Computers and Operations Research |
Authors: | Ouyang Liang-Yuh, Yao Jing-Shing |
Keywords: | fuzzy sets |
In a recent paper, Ouyang and Wu applied the minimax decision approach to solve a continuous review mixed inventory model in which the lead time demand distribution information is unknown but the annual demand is fixed and given. However, in the practical situation, the annual demand probably incurs disturbance due to various uncertainties. In this article, we attempt to modify Ouyang and Wu's model by considering two fuzziness of annual demand (i.e., fuzzy number of annual demand and statistic-fuzzy number of annual demand) and to investigate a computing schema for the continuous review inventory model in the fuzzy sense. We give an algorithm procedure to obtain the optimal ordering strategy for each case.