Mathematical Model for Inventory Optimization: A Fuzzy Integrated Approach |
Author(s): |
| Rekha H. Chaudhari , HNGU Patan; Dr. A.S.Gor, Pramukh Swami Science & H D Patel Arts College |
Keywords: |
| Inventory Management, Uncertainty, Inventory Optimization. Fuzzy Set |
Abstract |
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Inventory is always important for any type of business whether it comes for retails business or warehouses. Inventory is simply to keep a record of all the materials (Raw and furnished) inlet and outlets, and every kind of record which can be used in that business. Similarly optimization of this kind of inventory also plays an important role. If the inventory is not optimized then it may create difficulty to handle the business. Sometimes it may create un-ambiguities also. This paper is focused to analyze uncertainty in inventory management and optimization with the help of fuzzy integration. Optimization is achieved through total cost while the uncertainty is dealt with fuzzy sets. Fuzzy sets permit linguistic phrases handle in an accurate mathematical manner while crisp extents are essential for inventory management. |
Other Details |
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Paper ID: IJSRDV10I20003 Published in: Volume : 10, Issue : 2 Publication Date: 01/05/2022 Page(s): 29-31 |
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