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Fuzzy EPQ inventory models with backorder

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Abstract

This paper considers the economic production quantity (EPQ) problem with backorder in which the setup cost, the holding cost and the backorder cost are characterized as fuzzy variables, respectively. Following expected value criterion and chance constrained criterion, a fuzzy expected value model (EVM) and a chance constrained programming (CCP) model are constructed. Then fuzzy simulations are employed to estimate the expected value of fuzzy variable and α-level minimal average cost. In order to solve the CCP model, a particle swarm optimization (PSO) algorithm based on the fuzzy simulation is designed. Finally, the effectiveness of PSO algorithm based on the fuzzy simulation is illustrated by a numerical example.

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Authors and Affiliations

  1. School of Computer and Information Engineering, Shandong University of Finance, Jinan, 250014, China

    Xiaobin Wang

  2. Institute of Systems Engineering, Tianjin University, Tianjin, 300072, China

    Wansheng Tang

Authors
  1. Xiaobin Wang
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  2. Wansheng Tang
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Corresponding author

Correspondence to Xiaobin Wang.

Additional information

This research is supported by the National Natural Science Foundation of China under Grant No. 70471049.

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Wang, X., Tang, W. Fuzzy EPQ inventory models with backorder. J Syst Sci Complex 22, 313–323 (2009). https://doi.org/10.1007/s11424-009-9166-6

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  • DOI: https://doi.org/10.1007/s11424-009-9166-6

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