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A volume flexible fuzzy production inventory model under interactive and simulation approach

Author

Listed:
  • Barun Das
  • Manoranjan Maiti

Abstract

This paper concerns Economic Production Quantity (EPQ) policies with volume flexiblity manufacturing system for deteriorating items. In this situation, the demand occurs in accordance with stock, after a certain level. In order to make more realistic, this paper proposes that the inventory costs, selling price, storage space, and available budget are defined in imprecise nature. The objective is to determine the optimal production rate and time that maximise the total profit of the system. The equivalent multi-objective problem with space and budget constraints is optimised using: (i) interactive fuzzy decision making approach, (ii) necessity approach jointly with fuzzy simulation and Contractive Mapping Genetic Algorithm (CMGA). The model is illustrated numerically and the results obtained from different approaches are compared.

Suggested Citation

  • Barun Das & Manoranjan Maiti, 2012. "A volume flexible fuzzy production inventory model under interactive and simulation approach," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 4(4), pages 422-438.
    • Handle: RePEc:ids:ijmore:v:4:y:2012:i:4:p:422-438
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    Cited by:

    1. Irfan Ali & Srikant Gupta & Aquil Ahmed, 2019. "Multi-objective linear fractional inventory problem under intuitionistic fuzzy environment," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(2), pages 173-189, April.
    2. Glock, Christoph H. & Grosse, Eric H., 2021. "The impact of controllable production rates on the performance of inventory systems: A systematic review of the literature," European Journal of Operational Research, Elsevier, vol. 288(3), pages 703-720.

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