Skip to main content

2023 | OriginalPaper | Buchkapitel

Fuzzy Random Continuous Review Inventory Model with Controllable Lead-Time and Exponential Crashing Cost

verfasst von : Wasim Firoz Khan, Oshmita Dey

Erschienen in: Engineering Mathematics and Computing

Verlag: Springer Nature Singapore

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

In this paper, a continuous review inventory model is studied in a mixed imprecise and uncertain environment. A methodology is proposed to quantify both imprecise (fuzzy) and stochastic (random) information simultaneously. This enables the simultaneous inclusion of both the inherent randomness present in any real-life inventory situation and the subjective evaluation of the decision maker into the model. A methodology is developed by assuming the annual customer demand to be a continuous fuzzy random variable following normal distribution with associated fuzzy probability density function. Also the lead-time is assumed to be a control parameter and a lead-time crashing cost, in the form of an exponential function, is incorporated into the total inventory cost. The optimal values of the decision variables are determined so that the crisp equivalent of total expected annual inventory cost is a minimum. Numerical analysis is presented to illustrate the proposed model and provide some insights.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literatur
1.
Zurück zum Zitat Hadley, G., Whitin, T.M.: Analysis of Inventory Systems. Prentice Hall Inc., Englewood Cliffs: N.J. (1963) Hadley, G., Whitin, T.M.: Analysis of Inventory Systems. Prentice Hall Inc., Englewood Cliffs: N.J. (1963)
3.
Zurück zum Zitat Dey, O., Chakraborty, D.: Fuzzy periodic review system with fuzzy random variable demand. Eur. J. Oper. Res. 198, 113–120 (2009)CrossRef Dey, O., Chakraborty, D.: Fuzzy periodic review system with fuzzy random variable demand. Eur. J. Oper. Res. 198, 113–120 (2009)CrossRef
4.
Zurück zum Zitat Dutta, P., Chakraborty, D., Roy, A.R.: A single-period inventory model with fuzzy random variable demand. Math. Comput. Model. 41, 915–922 (2005)MathSciNetCrossRef Dutta, P., Chakraborty, D., Roy, A.R.: A single-period inventory model with fuzzy random variable demand. Math. Comput. Model. 41, 915–922 (2005)MathSciNetCrossRef
5.
Zurück zum Zitat Dey, O., Chakraborty, D.: A fuzzy random continuous review inventory system. Int. J. Prod. Econ. 132, 101–106 (2011)CrossRef Dey, O., Chakraborty, D.: A fuzzy random continuous review inventory system. Int. J. Prod. Econ. 132, 101–106 (2011)CrossRef
8.
Zurück zum Zitat Liu, Y.K., Liu, B.: A class of fuzzy random optimization: expected value model. Inf. Sci. 155, 89–102 (2003)MathSciNetCrossRef Liu, Y.K., Liu, B.: A class of fuzzy random optimization: expected value model. Inf. Sci. 155, 89–102 (2003)MathSciNetCrossRef
9.
Zurück zum Zitat Liao, C.J., Shyu, C.H.: An analytical determination of lead time with normal demand. Int. J. Oper. Prod. Manag. 11(9), 72–78 (1991)CrossRef Liao, C.J., Shyu, C.H.: An analytical determination of lead time with normal demand. Int. J. Oper. Prod. Manag. 11(9), 72–78 (1991)CrossRef
10.
Zurück zum Zitat Pan, J.C., Hsiao, Y.C.: Integrated inventory models with controllable lead time and backorder discount considerations. Int. J. Prod. Econ. 93–94, 387–397 (2005)CrossRef Pan, J.C., Hsiao, Y.C.: Integrated inventory models with controllable lead time and backorder discount considerations. Int. J. Prod. Econ. 93–94, 387–397 (2005)CrossRef
12.
13.
Zurück zum Zitat Uthayakumar, R., Priyan, S.: Permissible delay in payments in the two-echelon inventory system with controllable setup cost and lead time under service level constraint. Int. J. Inf. Manag. Sci. 24, 193–211 (2013)MathSciNetMATH Uthayakumar, R., Priyan, S.: Permissible delay in payments in the two-echelon inventory system with controllable setup cost and lead time under service level constraint. Int. J. Inf. Manag. Sci. 24, 193–211 (2013)MathSciNetMATH
14.
Zurück zum Zitat Priyan, S., Uthayakumar, R.: Continuous review inventory model with controllable lead time, lost sales rate and order processing cost when the received quantity is uncertain. J. Manuf. Syst. 34, 23–33 (2015)CrossRef Priyan, S., Uthayakumar, R.: Continuous review inventory model with controllable lead time, lost sales rate and order processing cost when the received quantity is uncertain. J. Manuf. Syst. 34, 23–33 (2015)CrossRef
15.
Zurück zum Zitat Chang, H.C., Yao, J.S., Ouyang, L.Y.: Fuzzy mixture inventory model with variable lead-time based on probabilistic fuzzy set and triangular fuzzy number. Math. Comput. Model. 39, 287–304 (2004)MathSciNetCrossRef Chang, H.C., Yao, J.S., Ouyang, L.Y.: Fuzzy mixture inventory model with variable lead-time based on probabilistic fuzzy set and triangular fuzzy number. Math. Comput. Model. 39, 287–304 (2004)MathSciNetCrossRef
16.
Zurück zum Zitat Rong, M., Mahapatra, N.K., Maiti, M.: A multi-objective wholesaler-retailers inventory-distribution model with controllable lead-time based on probabilistic fuzzy set and triangular fuzzy number. Appl. Math. Model. 32(12), 2670–2685 (2008)MathSciNetCrossRef Rong, M., Mahapatra, N.K., Maiti, M.: A multi-objective wholesaler-retailers inventory-distribution model with controllable lead-time based on probabilistic fuzzy set and triangular fuzzy number. Appl. Math. Model. 32(12), 2670–2685 (2008)MathSciNetCrossRef
17.
Zurück zum Zitat Wang, X.: Continuous review inventory model with variable lead time in a fuzzy random environment. Expert Syst. Appl. 38, 11715–11721 (2011)CrossRef Wang, X.: Continuous review inventory model with variable lead time in a fuzzy random environment. Expert Syst. Appl. 38, 11715–11721 (2011)CrossRef
18.
Zurück zum Zitat Dey, O., Chakraborty, D.: A fuzzy random periodic review system with variable lead-time and negative exponential crashing cost. Appl. Math. Model. 36, 6312–6322 (2012)MathSciNetCrossRef Dey, O., Chakraborty, D.: A fuzzy random periodic review system with variable lead-time and negative exponential crashing cost. Appl. Math. Model. 36, 6312–6322 (2012)MathSciNetCrossRef
19.
Zurück zum Zitat Shah, N.H., Soni, H.N.: Continuous review inventory model with fuzzy stochastic demand and variable lead time. Int. J. Appl. Ind. Eng. 1(2), 7–24 (2012) Shah, N.H., Soni, H.N.: Continuous review inventory model with fuzzy stochastic demand and variable lead time. Int. J. Appl. Ind. Eng. 1(2), 7–24 (2012)
21.
Zurück zum Zitat Soni, H.N., Patel, K.A.: Continuous review inventory model with reducing lost sales rate under fuzzy stochastic demand and variable lead time. Int. J. Procure. Manag. 8, 546–569 (2015) Soni, H.N., Patel, K.A.: Continuous review inventory model with reducing lost sales rate under fuzzy stochastic demand and variable lead time. Int. J. Procure. Manag. 8, 546–569 (2015)
22.
Zurück zum Zitat Rong, M., Maiti, M.: On an EOQ model with service level constraint under fuzzy-stochastic demand and variable lead-time. Appl. Math. Model. 39(17), 5230–5240 (2015)MathSciNetCrossRef Rong, M., Maiti, M.: On an EOQ model with service level constraint under fuzzy-stochastic demand and variable lead-time. Appl. Math. Model. 39(17), 5230–5240 (2015)MathSciNetCrossRef
23.
24.
Zurück zum Zitat Shin, D., Guchhait, R., Sarkar, B., Mittal, M.: Controllable lead time, service level constraint, and transportation discounts in a continuous review inventory model. RAIRO-Oper. Res. 50(4–5), 921–934 (2016)MathSciNetCrossRef Shin, D., Guchhait, R., Sarkar, B., Mittal, M.: Controllable lead time, service level constraint, and transportation discounts in a continuous review inventory model. RAIRO-Oper. Res. 50(4–5), 921–934 (2016)MathSciNetCrossRef
27.
Zurück zum Zitat Shee, S., Chakrabarti, T.: A fuzzy two-echelon supply chain model for deteriorating items with time varying holding cost involving lead time as a decision variable. In: Optimization and Inventory Management. Asset Analytics (Performance and Safety Management). Springer, Singapore (2020). https://doi.org/10.1007/978-981-13-9698-4_21 Shee, S., Chakrabarti, T.: A fuzzy two-echelon supply chain model for deteriorating items with time varying holding cost involving lead time as a decision variable. In: Optimization and Inventory Management. Asset Analytics (Performance and Safety Management). Springer, Singapore (2020). https://​doi.​org/​10.​1007/​978-981-13-9698-4_​21
28.
Zurück zum Zitat Tharani, S., Uthayakumar, R.: A novel approach to safety stock management in an integrated supply chain with controllable lead time and ordering cost reduction using present value. RAIRO-Oper. Res. 54, 1327–1346 (2020)MathSciNetCrossRef Tharani, S., Uthayakumar, R.: A novel approach to safety stock management in an integrated supply chain with controllable lead time and ordering cost reduction using present value. RAIRO-Oper. Res. 54, 1327–1346 (2020)MathSciNetCrossRef
29.
Zurück zum Zitat Kurdhi, N.A., Doewes, R.I., Yuliana.: A periodic review inventory system under stochastic demand with controllable safety stock, lead time, and price discount under partially backlogged shortages. Int. J. Value Chain. Manag. 11, 328 – 345 (2020) Kurdhi, N.A., Doewes, R.I., Yuliana.: A periodic review inventory system under stochastic demand with controllable safety stock, lead time, and price discount under partially backlogged shortages. Int. J. Value Chain. Manag. 11, 328 – 345 (2020)
30.
Zurück zum Zitat Krishnaraj, R.B.: Modeling for inventory involving lead time crashing cost as a Weibull distribution with backorder price discount. J. Interdiscip. Cycle Res. 12, 379–383 (2020) Krishnaraj, R.B.: Modeling for inventory involving lead time crashing cost as a Weibull distribution with backorder price discount. J. Interdiscip. Cycle Res. 12, 379–383 (2020)
33.
Zurück zum Zitat Tersine, R.J.: Principles of Inventory and Materials Management. North Holland, New York (1982) Tersine, R.J.: Principles of Inventory and Materials Management. North Holland, New York (1982)
34.
Zurück zum Zitat Carlsson, C., Fuller, R.: On possiblistic mean value and variance of fuzzy numbers. Fuzzy Sets Syst. 122, 315–326 (2001)CrossRef Carlsson, C., Fuller, R.: On possiblistic mean value and variance of fuzzy numbers. Fuzzy Sets Syst. 122, 315–326 (2001)CrossRef
Metadaten
Titel
Fuzzy Random Continuous Review Inventory Model with Controllable Lead-Time and Exponential Crashing Cost
verfasst von
Wasim Firoz Khan
Oshmita Dey
Copyright-Jahr
2023
Verlag
Springer Nature Singapore
DOI
https://doi.org/10.1007/978-981-19-2300-5_3

Premium Partner