Multi Criteria Decision Making in Inventory Models by Fuzzy Approaches

This book entitles as Multi Criteria Decision Making in Inventory Models by Fuzzy Approaches. An inventory is normally held for the ultimate purpose of satisfying demands. Typically, an inventory problem has four parts: (i) a model, expressing a set of assumed empirical relations among a set of variables; (ii) a subset of decision variables, whose values are to be chosen by the decision maker; (iii) an objective function of the variables in the model; and (iv) computing methods for analyzing the effects of alternative values of the decision variables on the objective function. In case of traditional inventory models, the pattern of demands is either deterministic or uncertain. In practice, the latter corresponds more to the real-world environment. To solve these inventory problems with uncertain demands, the classical inventory models usually describe the demands as certain probability distributions and then solve them.