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Modelling in Inventory Management under Fuzzy Environment

Modelling in Inventory Management under Fuzzy Environment

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In accordance with advancements of fuzzy set theory and its applications in decision making problems, there is a recent trend to provide versatile decision support systems for different Inventory Management problems. Again, managing inventory in a real organizations provides an understanding that gives the managers’ new insights and capabilities to determine better solutions in problems like production management, supply chain management, project management, etc. Inventories are kept so that demands may be met, orders filled, requirements satisfied, etc. So the problem of analyzing inventory problems in a real environment is an eternal task. It has been argued in a large body of recent literature that fuzzy sets theory could provide an appropriate framework for dealing with uncertainties in areas where intuition and subjective judgment play an important role. In such cases uncertainty is caused by the imprecision of natural language description rather than the existence of statistical frequency of the occurrence of events. To our consideration modeling and analysis of inventory systems using fuzzy logic deserve a good platform in generating some realistic fuzzy inventory problems.