Optimizing a Multi-Product Continuous-Review Inventory Model With Uncertain Demand, Quality Improvement, Setup Cost Reduction, and Variation Control in Lead Time | Zendy

Asif Iqbal Malik | Zendy; Biswajit Sarkar | Zendy

Open Access

Optimizing a Multi-Product Continuous-Review Inventory Model With Uncertain Demand, Quality Improvement, Setup Cost Reduction, and Variation Control in Lead Time

Author(s) -

Asif Iqbal Malik,

Biswajit Sarkar

Publication year - 2018

Publication title -

ieee access

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.587

H-Index - 127

ISSN - 2169-3536

DOI - 10.1109/access.2018.2849694

Subject(s) - aerospace , bioengineering , communication, networking and broadcast technologies , components, circuits, devices and systems , computing and processing , engineered materials, dielectrics and plasmas , engineering profession , fields, waves and electromagnetics , general topics for engineers , geoscience , nuclear engineering , photonics and electrooptics , power, energy and industry applications , robotics and control systems , signal processing and analysis , transportation

In this paper, a continuous-review inventory model is developed for multi-products with fuzzy demand. Two constraints as service level and storage space are considered. Furthermore, this paper considers the process quality improvement, setup costs reduction, and controllable lead time. Lead time demand is an any arbitrary distribution and only mean and standard deviation are known. For this, a distribution-free procedure is employed. Total cost is minimized according to the decision variables for the worst possible distribution situation. A numerical example is given to illustrate the significance of the proposed model. Finally, conclusions and future research directions are given.

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