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Multi-objective linear fractional inventory model of multi-products with price-dependant demand rate in fuzzy environment

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  • Pavan Kumar
  • Debashis Dutta

Abstract

In this paper, we propose a multi-criteria decision making approach for the solution of a multi-product inventory model without shortages. The model is considered over infinite horizon with price-dependant demand rate. The proposed model is formulated as a fractional multi-objective optimisation problem along with four constraints: budget constraint, space constraint, number of order 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. Two numerical examples are given to illustrate the proposed model.

Suggested Citation

  • Pavan Kumar & Debashis Dutta, 2015. "Multi-objective linear fractional inventory model of multi-products with price-dependant demand rate in fuzzy environment," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 7(5), pages 547-565.
    • Handle: RePEc:ids:ijmore:v:7:y:2015:i:5:p:547-565
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    Citations

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    Cited by:

    1. Anuradha Sahoo & Minakshi Panda, 2024. "Optimization techniques for crisp and fuzzy multi-objective static inventory model with Pareto front," OPSEARCH, Springer;Operational Research Society of India, vol. 61(4), pages 2242-2284, December.
    2. Irfan Ali & Srikant Gupta & Aquil Ahmed, 2019. "Multi-objective linear fractional inventory problem under intuitionistic fuzzy environment," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(2), pages 173-189, April.
    3. Umar Muhammad Modibbo & Srikant Gupta & Aquil Ahmed & Irfan Ali, 2024. "An integrated multi-objective multi-product inventory managed production planning problem under uncertain environment," Annals of Operations Research, Springer, vol. 339(3), pages 1679-1723, August.
    4. Hamiden Abd El- Wahed Khalifa & Pavan Kumar, 2022. "A goal programming approach for multi-objective linear fractional programming problem with LR possibilistic variables," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(4), pages 2053-2061, August.

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