What is it about?

In this paper, we propose a model and solution approach for a multi-item inventory problem without shortages. The proposed model is formulated as a fractional multi-objective optimisation problem along with three constraints: budget constraint, space constraint and budgetary constraint on ordering cost of each item.

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Why is it important?

The proposed inventory model becomes a multiple criteria decision-making (MCDM) problem in fuzzy environment. This model is solved by multi-objective fuzzy goal programming (MOFGP) approach. A numerical example is given to illustrate the proposed model.

Perspectives

This papers adds some value to the area of multi objective inventory models.

Dr. PAVAN KUMAR
VIT Bhopal University

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This page is a summary of: Application of fuzzy goal programming approach to multi-objective linear fractional inventory model, International Journal of Systems Science, November 2013, Taylor & Francis, DOI: 10.1080/00207721.2013.860639.
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