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Newsboy single period inventory model with fuzzy random variable demand and deterioration
Subject Area:
Physical Sciences and Engineering
Abstract:
This paper presents a single-period Newsboy inventory problem in an imprecise and uncertain mixed environment with deterioration. The aim of this paper is to introduce demand of Newsboy as a fuzzy random variable. To determine the optimal order quantity a new methodology is developed for this model in presence of fuzzy random variable demand where the optimum is achieved using a graded mean integration representation. To illustrate the model the classical newsboy problem is considered.
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