A class of fuzzy rough expected value multi-objective decision making model and its application to inventory problems

Authors:
Jiuping Xu;Lihui Zhao
Affiliations:
Uncertainty Decision-Making Laboratory, School of Business and Administration, Sichuan University, Chengdu 610064, PR China;Uncertainty Decision-Making Laboratory, School of Business and Administration, Sichuan University, Chengdu 610064, PR China
Venue:
Computers & Mathematics with Applications
Year:
2008

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Abstract

In this paper, we concentrate on developing a fuzzy rough multi-objective decision-making model, according to fuzzy rough theory. Then we prove the existence of a solution of the fuzzy rough multi-objective decision-making model formulated. Next, we develop an effective algorithm to solve the fuzzy rough expected value multi-objective decision-making model concerning the inventory problem, and prove the convergence of the proposed algorithm. Finally these are applied to practical inventory problem in which all inventory costs, purchasing and selling prices in the objectives and constraints are assumed to be fuzzy rough in nature. Comparing the results with those from the fuzzy multi-objective decision-making model, we reach that the proposed fuzzy rough multi-objective decision-making model and algorithm, which will be of much use to management, and provide significant solutions to construct other inventory models with fuzzy rough variables in real life.