A multi-item fuzzy economic production quantity problem with a finite production rate |
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| Authors: | Kaj-Mikael Bjö rk |
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| Affiliation: | a Åbo Akademi University, IAMSR, IT Department, Finland
b Arcada University of Applied Sciences, Department of Business, Information Technology and Media, Finland |
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| Abstract: | Inventory Management and production planning are essential tasks for every company in the industry. Therefore, the development of a large set of Economic Order Quantity (EOQ) models is needed. In this paper, a fuzzy multi-item Economic Production Quantity (EPQ) model is developed. This paper contributes to the state-of-the-art with a theoretical study of a problem, where a company has to decide the size of some production batches under uncertain cycle times. The uncertainty will be handled with triangular fuzzy numbers and an analytical solution will be found to the optimization problem. |
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| Keywords: | Inventory management EPQ-model Production-inventory optimization Supply chain management |
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