Title: Computational approach to fuzzified profit optimisation of inventory flow in supply chain with deteriorating items

Authors: S.S. Mishra; Dinesh K. Sharma; S.K. Yadav; S. Rawat

Addresses: Department of Mathematics and Statistics, Centre of Excellence on Advanced Computing, Dr. Ram Manohar Lohia Avadh University, Faizabad-224001, UP, India ' Department of Business, Management and Accounting, University of Maryland Eastern Shore, Princess Anne, MD 21853, USA ' Department of Mathematics and Statistics, Centre of Excellence on Advanced Computing, Dr. Ram Manohar Lohia Avadh University, Faizabad-224001, UP, India ' Department of Mathematics and Statistics, Centre of Excellence on Advanced Computing, Dr. Ram Manohar Lohia Avadh University, Faizabad-224001, UP, India

Abstract: In this paper, we make a fresh attempt to discuss fuzzified profit optimisation of inventory in supply chain with deterioration and power form stock dependent demand. After applying Zadeh's extension principle and centroid method, a system of nonlinear equation has been developed and consequently solved by using fast converging Newton-Raphson (N-R) method. The optimum profit of a fuzzified inventory control system as an important performance measure has been computed and sensitivity analysis has been also presented to demonstrate the use of the model under consideration.

Keywords: fuzzified profit optimisation; inventory flow in supply chain; system of nonlinear equations and its computing.

DOI: 10.1504/IJOR.2017.085963

International Journal of Operational Research, 2017 Vol.30 No.1, pp.83 - 98

Received: 06 Dec 2014
Accepted: 22 Feb 2015
Published online: 21 Aug 2017 *

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