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Multi-item inventory model with probabilistic price dependent demand and imprecise goal and constraints. (English) Zbl 1075.90569

A multi-item inventory model with stochastic price-dependent demand whose probability distribution depends on selling price as a parameter is considered. The expected profit rate, available storage area and total budget are imprecise, i.e., fuzzy in nature. A multi-item fuzzy stochastic inventory model with probabilistic price, dependent demand under imprecise profit goal, storage space and budget constraints is formulated. The problem is solved by using probability distribution and a fuzzy nonlinear programming technique. The model is illustrated with a numerical example.

MSC:

90C70 Fuzzy and other nonstochastic uncertainty mathematical programming
90C90 Applications of mathematical programming
90B05 Inventory, storage, reservoirs
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