Optimal inventory policies of facilities in a supply chain system under fuzzy stochastic environment
by D.K. Shaw; D.A. Khan
International Journal of Business Performance and Supply Chain Modelling (IJBPSCM), Vol. 4, No. 2, 2012

Abstract: In the present scenario, individual firms do not compete as independent entities rather as an integral part of a supply chain. Uncertainty is the major attribute in managing the supply chains. Accordingly, we develop heuristic methods to determine optimal inventory policies of facilities in a supply chain system under fuzzy stochastic environment. The total cost of the inventory system is computed using defuzzification methods. To determine an optimal policy, a numerical technique is presented and the results are analysed with the help of a numerical example.

Online publication date: Mon, 11-Aug-2014

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