Fuzzy set theoretic interpretation of economic order quantity
IEEE Transactions on Systems, Man and Cybernetics
A study of the ranking function approach through mean values
Fuzzy Sets and Systems
Ranking fuzzy numbers with integral value
Fuzzy Sets and Systems
Fuzzy set theory—and its applications (3rd ed.)
Fuzzy set theory—and its applications (3rd ed.)
Fuzzy Sets and Systems: Theory and Applications
Fuzzy Sets and Systems: Theory and Applications
An inventory model for single-period products with reordering opportunities under fuzzy demand
Computers & Mathematics with Applications
Information Sciences: an International Journal
Computers & Mathematics with Applications
Review article: A review of soft computing applications in supply chain management
Applied Soft Computing
Supply chain coordination for fuzzy random newsboy problem with imperfect quality
International Journal of Approximate Reasoning
The return policy model with fuzzy demands and asymmetric information
Applied Soft Computing
A single-period inventory model with fuzzy random variable demand
Mathematical and Computer Modelling: An International Journal
A belief-rule-based inventory control method under nonstationary and uncertain demand
Expert Systems with Applications: An International Journal
Optimal inventory policy for the fuzzy newsboy problem with quantity discounts
Information Sciences: an International Journal
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In this paper, we consider the single-period inventory problem in the presence of uncertainties. Two types of uncertainties, one arising from randomness which can be incorporated through a probability distribution and the other from fuzziness which can be characterized by fuzzy numbers, are considered. We develop two models, in one the demand is probabilistic while the cost components are fuzzy and in the other the costs are deterministic but the demand is fuzzy. In each, the objective is maximization of profit which is fuzzy and optimization is achieved through fuzzy ordering of fuzzy numbers with respect to their total integral values. We show that the first model reduces to the classical newsboy problem, and therefore an optimal solution is easily available. In second model, we show that the objective function is concave and hence present a characterization of the optimal solution, from which one can readily compute an optimal solution. Besides discussion of the models, a relevant extension is outlined.