• On the distribution-free continuous-review production-inventory model with service level constraint

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      https://www.ias.ac.in/article/fulltext/sadh/045/0176

    • Keywords

       

      Inventory; production quantity; continuous review; fuzzy random variable; min–max distributionfree procedure.

    • Abstract

       

      In this article, we study a continuous-review production-inventory model that assembles lost sales and backorders with service level constraint. The study under consideration assumes that the distribution of demand during the lead-time is known partially. The objective of this paper is twofold. Firstly, the distributionfree procedure is applied to obtain a closed-form solution of optimal production quantity, re-order level and lead-time in the random framework. Secondly, considering demand as a fuzzy random variable, the procedure isextended to the fuzzy random framework in which an algorithm is proposed to find the optimal global solution. Two numerical examples are provided to illustrate the methods. Furthermore, sensitivity analysis is performed to present some managerial inferences

    • Author Affiliations

       

      SUSHIL KUMAR BHUIYA DEBJANI CHAKRABORTY1

      1. Department of Mathematics, Indian Institute of Technology Kharagpur, Kharagpur 721302, India
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