The Further Study of Safety Stock under Uncertain Environment

Authors:
Tan Man-Yi;Tang Xiao-Wo
Affiliations:
Aff1 Aff2;School of Management, University of Electronic Science and Technology of China, Chengdu, People's Republic of China 610054
Venue:
Fuzzy Optimization and Decision Making
Year:
2006

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Abstract

Corresponding to stochastic variable, it is a better choice to describe the market demand uncertainty of innovative products with fuzzy variable because no historical data is available. Traditionally, possibility measure is regarded as the parallel concept of probability measure. However, it is, in fact, the credibility measure that plays the role of probability measure! Based on the credibility theory, this paper studies how to evaluate the safety stock of enterprise given desired product availability when the node enterprise market demand of supply chain is described by Gauss fuzzy variable. Thereinafter, the authors discuss the impact of required product availability and demand uncertainty on safety stock, compare the correlative issues with stochastic demand, and get some useful results.