Inventory models with a mixture of backorders and lost sales under fuzzy cost
Continuous review and periodic review inventory models in which a fraction of demand is backordered and the remaining fraction is lost during the stockout period are considered under fuzzy environment. Fuzziness is introduced by allowing the cost components imprecise and vague to certain extent. Trapezoidal fuzzy numbers are used to represent these characteristics. The optimum policies of these models under fuzzy costs are derived. Numerical results highlighting the sensitivity in the decision variables are also described.
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