A FUZZY PROGRAMMING APPROACH TO INVENTORY CONTROL PROBLEM

Abstract

Purpose of study: Main aim of this study is to deals with the problem of inventories. Their holding cost, set-up cost, and many more related to that. All the problems are flexible and having fuzzy nature. Methodology: The model takes the form of a Geometric Programming problem. Hence geometric programming algorithm is used here. Main Finding: The developed models may be used for a single item with a single constraint of limitation on storage area and multi-item inventory problems. Application of this study: This study is useful in the area of inventories. There holding cost and set-up cost etc. The originality of this study: This study may help the stockholders for storing goods and minimizing the cost of holding.