A Novel Method for Optimal Solution of Fuzzy Chance Constraint Single-Period Inventory Model

A method is proposed for solving single-period inventory fuzzy probabilistic model (SPIFPM) with fuzzy demand and fuzzy storage space under a chance constraint. Our objective is to maximize the total profit for both overstock and understock situations, where the demand D~j for each product j in the objective function is considered as a fuzzy random variable (FRV) and with the available storage space area W~, which is also a FRV under normal distribution and exponential distribution. Initially we used the weighted sum method to consider both overstock and understock situations. Then the fuzziness of the model is removed by ranking function method and the randomness of the model is removed by chance constrained programming problem, which is a deterministic nonlinear programming problem (NLPP) model. Finally this NLPP is solved by using LINGO software. To validate and to demonstrate the results of the proposed model, numerical examples are given

Incorporating human learning into a fuzzy EOQ inventory model with backorders

Even though publications on fuzzy inventory problems are constantly increasing, modelling the decision maker’s characteristics and their effect on his/her decisions and consequently on the planning outcome has not attracted much attention in the literature. In order to fill this research gap and model reality more accurately, this paper develops a new fuzzy EOQ inventory model with backorders that considers human learning over the planning horizon. The paper is an extension of an existing EOQ inventory model with backorders in which both demand and lead times are fuzzified. Here, the assumption of constant fuzziness is relaxed by incorporating the concept of learning in fuzziness into the model considering that the degree of fuzziness reduces over the planning horizon. The proposed fuzzy EOQ inventory model with backorders and learning in fuzziness has a good performance in efficiency. Finally, it is worth mentioning that learning in fuzziness decreases the total inventory cost