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Fuzzy random integrated vendor-buyer inventory model with imperfect-quality items and controllable lead time

Fuzzy random integrated vendor-buyer inventory model with imperfect-quality items and... In this research, an integrated vendor-buyer inventory model with a random number of defective items under fuzzy random lead time demand is developed. The length of lead time affects the competitive abilities of a business directly and it can be controlled by adding a crashing cost. It is assumed that the lead time demand is normally distributed and the shortages are permitted, which are partially backlogged. In the model, lead time demand, annual demand rate, adjustable production rate, and backorder fraction are imprecise in nature and are represented by the triangular fuzzy numbers. Signed distance method is used to defuzzify the fuzzy total inventory cost. The objective is to determine simultaneously the optimal order quantity, the lead time, and the number of deliveries, which minimise the expected total average cost. An algorithm procedure of finding the optimal solution is developed. Furthermore, numerical example and sensitivity analysis are carried out to illustrate the proposed integrated model. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Services Operations and Informatics Inderscience Publishers

Fuzzy random integrated vendor-buyer inventory model with imperfect-quality items and controllable lead time

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1741-539X
eISSN
1741-5403
DOI
10.1504/IJSOI.2017.086572
Publisher site
See Article on Publisher Site

Abstract

In this research, an integrated vendor-buyer inventory model with a random number of defective items under fuzzy random lead time demand is developed. The length of lead time affects the competitive abilities of a business directly and it can be controlled by adding a crashing cost. It is assumed that the lead time demand is normally distributed and the shortages are permitted, which are partially backlogged. In the model, lead time demand, annual demand rate, adjustable production rate, and backorder fraction are imprecise in nature and are represented by the triangular fuzzy numbers. Signed distance method is used to defuzzify the fuzzy total inventory cost. The objective is to determine simultaneously the optimal order quantity, the lead time, and the number of deliveries, which minimise the expected total average cost. An algorithm procedure of finding the optimal solution is developed. Furthermore, numerical example and sensitivity analysis are carried out to illustrate the proposed integrated model.

Journal

International Journal of Services Operations and InformaticsInderscience Publishers

Published: Jan 1, 2017

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