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Optimizing Inventory Management: A Comprehensive Analysis of Models Integrating Diverse Fuzzy Demand Functions

Author

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  • Mandeep Mittal

    (Department of Mathematics, School of Computer Science Engineering and Technology, Bennett University, Greater Noida 201310, India)

  • Vibhor Jain

    (Teerthankeer Mahaveer Institute of Management and Technology, Teerthanker Mahaveer University, Moradabad 244001, India)

  • Jayanti Tripathi Pandey

    (Department of Mathematics, Amity Institute of Applied Sciences, Amity University Uttar Pradesh, Noida 201301, India)

  • Muskan Jain

    (Department of Mathematics, Amity Institute of Applied Sciences, Amity University Uttar Pradesh, Noida 201301, India)

  • Himani Dem

    (Department of Mathematics, Ramjas College, University of Delhi, New Delhi 110007, India)

Abstract

This review study provides a comprehensive analysis of the classification of inventory models, with a focus on incorporating various fuzzy demand functions. The incorporation of fuzzy sets theory within inventory models is highlighted as a significant advancement in the field. The study emphasizes the importance of efficiently locating pertinent publications on this topic, rendering it a valuable resource for individuals interested in exploring inventory models that incorporate fuzzy demand functions. There was a need for a systematic and complete examination of recent breakthroughs in fuzzy inventory management. Our objective was to provide an illuminating overview of the significant developments in this field and offer insights into the probable future directions of research. Our evaluation of various model components has unveiled new and underexplored territories that may warrant further exploration. Perhaps it would be prudent to consider the possibility of establishing simpler models or incorporating qualitative methods into existing models and initiating a discourse on this topic.

Suggested Citation

  • Mandeep Mittal & Vibhor Jain & Jayanti Tripathi Pandey & Muskan Jain & Himani Dem, 2023. "Optimizing Inventory Management: A Comprehensive Analysis of Models Integrating Diverse Fuzzy Demand Functions," Mathematics, MDPI, vol. 12(1), pages 1-18, December.
    • Handle: RePEc:gam:jmathe:v:12:y:2023:i:1:p:70-:d:1307235
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    References listed on IDEAS

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    4. Neelanjana Rajput & R.K. Pandey & Anand Chauhan, 2022. "Fuzzy optimisation of a production model with CNTFN demand rate under trade-credit policy," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 21(2), pages 200-220.
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