Application of fuzzy goal programming approach to multi-objective linear fractional inventory model

In this paper, we propose a model and solution approach for a multi-item inventory problem without shortages. The proposed model is formulated as a fractional multi-objective optimisation problem along with three constraints: budget constraint, space constraint and budgetary constraint on ordering c...

Full description

Saved in:
Bibliographic Details
Published in:International journal of systems science 2015-09, Vol.46 (12), p.2269-2278
Main Authors: Dutta, D., Kumar, Pavan
Format: Article
Language:English
Subjects:
Budgeting
fractional programming
Fuzzy
Fuzzy logic
Fuzzy set theory
Goal programming
inventory model
Mathematical models
membership function
multi-objective optimisation
Optimization
Shortages
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In this paper, we propose a model and solution approach for a multi-item inventory problem without shortages. The proposed model is formulated as a fractional multi-objective optimisation problem along with three constraints: budget constraint, space constraint and budgetary constraint on ordering cost of each item. The proposed inventory model becomes a multiple criteria decision-making (MCDM) problem in fuzzy environment. This model is solved by multi-objective fuzzy goal programming (MOFGP) approach. A numerical example is given to illustrate the proposed model.
ISSN:0020-7721
1464-5319
DOI:10.1080/00207721.2013.860639