A Continuous Review Production-Inventory System with a Variable Preparation Time in a Fuzzy Random Environment

With the increase in varieties products and increasing uncertainty about product demand, production preparation time is a significant factor addressing these issues. The trade-off between reduction of associated cost remains critical decision. this backdrop, study presents continuous review production-inventory model with variable time-dependent setup cost. demand during captured through min-max distribution-free approach. In stochastic framework, order quantity, reorder point, are optimized by minimizing expected considering time-value effect. Further, fuzzy formulated to tackle imprecise nature demand. Two algorithms developed using an analytical approach obtain optimal solution. A numerical illustration given present key insights for effective inventory management. It observed that quantity total more sensitive at lower side rather than higher side. discount rate also found be while