Multi-objective inventory models of deteriorating items with some constraints in a fuzzy environment

Multi-objective inventory models of deteriorating items have been developed with vague and imprecise information about available storage area. Here, the objectives are (i) to maximize the profit, (ii) to minimize the wastage cost due to deterioration and (iii) to minimize the total production cost. These objectives are also fuzzy in nature. In these models, production rate is a decision variable along with the usual decision parameters inventory quantities. The impreciseness in inventory parameters and objective goals has been expressed by linear membership functions. We have solved the proposed model for a particular unit production cost function using different fuzzy non-linear goal programming techniques based on gradient method. To incorporate the relative importance of the objectives, the cardinal weights ( both fuzzy or crisp) have been assigned. The models are illustrated with numerical examples and results of different models are compared. 38 Multi-objective Inventory Model of Deteriorating Items