Application of fuzzy goal programming approach to multi-objective linear fractional inventory model

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.

Keywords:

• inventory model
• membership function
• goal programming
• multi-objective optimisation
• fractional programming

Acknowledgements

The authors are thankful to the anonymous referees, and the associate editor, for their valuable comments and suggestions, which surprisingly improved the clarity of the proposed work.

Additional information

Notes on contributors

D. Dutta

Pavan Kumar is currently a PhD candidate and SRF-UGC in the Department of Mathematics at the National Institute of Technology, Warangal, India, under the supervision of Prof Debashis Dutta. From CCS University, Meerut, India, he received his MSc degree in Mathematics and BSc degree in Mathematics. His current research interests include inventory models, multi-objective optimisation, fuzzy optimisation and interval optimisation.

Pavan Kumar

Debashis Dutta is currently a professor in the Department of Mathematics at the National Institute of Technology, Warangal in India. He has done PhD in Operations Research. He teaches Optimisation Techniques and Statistics. His prime research interest is in the field of mathematical programming, operations research, uncertainty and atmospheric modelling.