Display Omitted We give an overview of the fuzzy inventory models literature gathering 210 papers from 1987 onward.The current state of the literature is categorized into 13 areas under five main groups.We provide details to describe the applied methodologies.The research is concluded with future research directions. Over the years since the advancement of inventory management and fuzzy set theories, a vast number of studies have been published to integrate these concepts. Nonetheless, no comprehensive and systematic literature review can be found that analyzed the studies in this research stream. It motivated us to conduct this survey as a systematic and comprehensive review in the field of fuzzy inventory management to identify major achievements attained so far and shed light on future directions. First, the earlier review papers are presented to reveal the necessity of this study, and then methodology applied in collecting sample papers is described, followed by an in-depth analysis of the papers. Totally, a sample of 210 papers is identified and classified according to the common characteristics of the models. Several aspects of the models are assessed that led to identification of some areas overlooked by researchers so far.

Fuzzy inventory models

Optimal replenishment policy for an integrated inventory system with defective items and allowable shortage under trade credit

The efficient management of inventory requires managers to make decisions on two fundamental questions: (1) how large should an inventory replenishment order be, and (2) when should an inventory replenishment order be placed. These two decisions are integral in the support of an overall inventory management program that typically has the objective of providing a desired level of customer service at a minimal cost. Beginning in 1913 with Harris’s economic order quantity (EOQ)

Fuzzy Inventory Models

This article investigates the impact of inspection policy and lead time reduction on an integrated vendor-buyer inventory system. We assume that an arriving order contains some defective items. The buyer adopts a sublot sampled inspection policy to inspect selected items. The number of defective items in the sublot sampling is a random variable. The buyer's lead time is assumed reducible by adding crash cost. Two integrated inventory models with backorders and lost sales are derived. We first assume that the lead time demand follows a normal distribution, and then relax the assumption about the lead time demand distribution function and apply the minimax distribution-free procedure to solve the problem. Consequently, the order quantity, reorder point, lead time and the number of shipments per lot from the vendor to the buyer are decision variables. Iterative procedures are developed to obtain the optimal strategy.

Integrated vendor-buyer inventory system with sublot sampling inspection policy and controllable lead time

A note on fuzzy inventory model with storage space and budget constraints

The cost of capital (i.e. opportunity cost) is one of the key factors that will influence the inventory and investment decisions. Previously, the classical EOQ model has been extended to include an...

Hung-Chi Chang

Papers

Fuzzy opportunity cost for EOQ model with quality improvement investment