Fuzzy EPQ inventory models with backorder |
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Authors: | Xiaobin Wang Wansheng Tang |
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Institution: | (1) School of Computer and Information Engineering, Shandong University of Finance, Jinan, 250014, China;(2) Institute of Systems Engineering, Tianjin University, Tianjin, 300072, China |
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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.
This research is supported by the National Natural Science Foundation of China under Grant No. 70471049. |
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Keywords: | Economic production quantity fuzzy simulation fuzzy variable inventory PSO |
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