Multi-item production inventory model with fuzzy rough coefficients via geometric programming approach
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ArticlePublication details: Description: 50 (4) Oct-Dec 2013, 475-490pSubject(s):
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BV- Opsearch (Jul - Dec 2013)Summary: 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 Rough (Fu-Ro) multi-item Economic Production Quantity (EPQ) model is developed with constant demand, infinite production rate having flexibility and reliability consideration in production process and demand dependent unit production cost and shortages under the restrictions on storage area. Some of the inventory parameters are considered as trapezoidal fuzzy rough numbers and the model is formulated following cost minimization principle. Then by geometric programming (GP) technique we solve the problem. The model is illustrated through numerical example.
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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 Rough (Fu-Ro) multi-item Economic Production Quantity (EPQ) model is developed with constant demand, infinite production rate having flexibility and reliability consideration in production process and demand dependent unit production cost and shortages under the restrictions on storage area. Some of the inventory parameters are considered as trapezoidal fuzzy rough numbers and the model is formulated following cost minimization principle. Then by geometric programming (GP) technique we solve the problem. The model is illustrated through numerical example.
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