Application of fuzzy goal programming approach to multi-objective linear fractional inventory model |
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Authors: | D Dutta |
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Affiliation: | Department of Mathematics, National Institute of Technology, Warangal, Andhra Pradesh, India |
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Abstract: | 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. 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. |
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Keywords: | inventory model membership function goal programming multi-objective optimisation fractional programming |
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