Title :
The Minimax Distribution Free Procedure for an Inventory Model in Mixed Fuzzy and Stochastic Environment
Author :
Wang, Xiaobin ; Xu, Lin ; Wu, Quansheng
Author_Institution :
Sch. of Comput. & Inf. Eng., Shandong Univ. of Finance, Jinan
Abstract :
This paper investigates the mixture inventory control system in which the lead time demand is a random variable with general distribution, and the defective rate of the arrived order lot is also a random variables. Furthermore, the backorder rate, setup cost, shortage penalty cost and marginal profit per unit in different cycles are iid fuzzy variables, respectively. In addition, a mathematic formulation about the expected annual total cost is presented. And then some useful properties are analyzed for establishing an efficient solution procedure. In order to search the optimal solution of the model, an iterative algorithm are designed. Finally, a numerical example is given to illustrate the procedure of searching the optimal solution.
Keywords :
fuzzy control; iterative methods; minimax techniques; optimal control; random processes; search problems; stochastic processes; stock control; annual total cost; backorder rate; defective rate; iid fuzzy variable; inventory control system; iterative algorithm; lead time demand; marginal profit; mathematic formulation; minimax distribution free procedure; optimal solution search; random variable; setup cost; shortage penalty cost; stochastic environment; Costs; Distributed computing; Finance; Fuzzy control; Fuzzy systems; Lead time reduction; Minimax techniques; Random processes; Random variables; Stochastic processes; Fuzzy random process; Fuzzy variable; Inventory; Lead time;
Conference_Titel :
Advanced Computer Control, 2009. ICACC '09. International Conference on
Conference_Location :
Singapore
Print_ISBN :
978-1-4244-3330-8
DOI :
10.1109/ICACC.2009.46