Economic order quantity models without backordering

Assignment Help Operation Management

Reference no: EM132242190

In economic order quantity models without backordering, both the stock cost of each unit quantity and the order cost of each cycle are characterized as independent fuzzy variables rather than fuzzy numbers as in previous studies. Based on an expected value criterion or a credibility criterion, a fuzzy expected value model and a fuzzy dependent chance programming (DCP) model are constructed. The purpose of the fuzzy expected value model is to find the optimal order quantity such that the fuzzy expected value of the total cost is minimal. The fuzzy DCP model is used to find the optimal order quantity for maximizing the credibility of an event such that the total cost in the planning periods does not exceed a certain budget level. Fuzzy simulations are designed to calculate the expected value of the fuzzy objective function and the credibility of each fuzzy event. A particle swarm optimization (PSO) algorithm based on a fuzzy simulation is designed, by integrating the fuzzy simulation and the PSO algorithm. Finally, a numerical example is given to illustrate the feasibility and validity of the proposed algorithm.

Reference no: EM132242190

Questions Cloud

New structured behavioral and situational interview : You would like to roll out a new structured behavioral/situational interview

Customer attrition is the gradual loss of customers : Customer attrition is the gradual loss of customers in the customer base due to competition or a lack of need for the product or service being sold.

Inspect myers home and eliminate any termite problem : Judy Myers and the Terminix International Company entered a contract in which Terminix agreed to inspect Myers's home and eliminate any termite problem

How social media contributes to sales and marketing : Summarize how social media contributes to sales and marketing, as well as customer support. Identify and explain SM risks for each activity.

Economic order quantity models without backordering : In economic order quantity models without backordering, Finally, numerical example is given to illustrate the feasibility and validity of the proposed algorithm

Interviews are important-necessary step in hiring process : Interviews are an important and necessary step in the hiring process of new employees.

Disadvantages to focus on ethics in performance appraisal : Describe the disadvantages to a focus on ethics in performance appraisal?

Develop a briefing report to discuss with the ceo at meeting : BSBMKG609 - Develop a marketing plan - develop a short briefing report to be discussed with the CEO (assessor) to inform the development of NatureCare Products

Identify how Capital ratios affect Economic Growth : Identify how Capital ratios (i.e capital requirements) affect Economic Growth (GDP movements) and Household Consuption for USA and China+India

User Account

All Pages