Title: Inventory policy determination in MSMEs using intuitionistic fuzzy sets based on learning aided decision support system

Authors: Mahuya Deb; Kandarpa Kumar Sarma

Addresses: Department of Commerce, Gauhati University, Guwahati-781014, Assam, India ' Department of Electronics and Communication Engineering, Gauhati University, Guwahati-781014, Assam, India

Abstract: The successful operation of micro, small and medium enterprises (MSME) requires an effective supply chain linking manufacturers and distributors so as to minimise cost, reinvent channel models, and optimise collaborative relationships. In order to overcome the uncertainty present in this chain, inventory management policies are adopted which are crucial for enhancing, smooth production plans, and lower operation costs. Intuitionistic fuzzy (IF) set is considered to be an appropriate tool to model uncertainty in the chain. This paper deals with inventory policies regulated by IFS which would be applicable to the MSMEs. Normalised Euclidean distance method is used to measure the difference between each enterprise and each inventory policy respectively so as to select the best set of inventory management policy suitable for a unit. Further, the work involves the design of a decision support system (DSS) based on learning aided technique which provides an automated approach to the work.

Keywords: micro; small and medium enterprise; MSME; inventory policy; decision support system; DSS; Euclidean distance; triangular intuitionistic fuzzy number; TIFN.

DOI: 10.1504/IJOR.2023.130861

International Journal of Operational Research, 2023 Vol.47 No.1, pp.124 - 141

Received: 03 Aug 2020
Accepted: 08 Dec 2020
Published online: 13 May 2023 *

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