A minimax distribution free procedure for mixed inventory model involving variable lead time with fuzzy demand

A minimax distribution free procedure for mixed inventory model involving variable lead time with fuzzy demand

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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: ,
Keywords: fuzzy sets
Abstract:

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.

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