competitive business environment. This article considers demand in a form of fuzzy number
and discusses the SPIM in which the retailer has the opportunity to reorder once during the
period. The entire period/season is divided into two slots and the reorder is to be made during
the mid-season after the early-season demand has been observed. The objective is to find the
expected optimal order quantity together with profit maximization. We illustrate the
implementation of the proposed model using a numerical example and explain that the explicit
consideration of this reordering opportunity could lead us to better results in terms of
profitability.
How to cite this paper
Mahata, G. (2011). A single period inventory model for incorporating two-ordering opportunities under imprecise demand information.International Journal of Industrial Engineering Computations , 2(2), 385-394.
Refrences
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Dutta, P., Chakraborty, D. & Roy, A.R. (2007). An inventory model for single period products with reordering strategy under fuzzy demand. Computers and Mathematics with Applications, 53, 1502-1517.
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Lau, H. S. & Lau, A. H. L. (1997). Reordering strategies for a newsboy-type product. European Journal of Operational Research, 103, 557-572.
Lau, A. H. L. & Lau, H. S. (1998). Decision models for single-period products with two ordering opportunities. International Journal of Production Economics, 55, 57-70.
Luhandjula, M.K. (2004). Fuzzy random variable: A mathematical tool for combining randomness and fuzziness, The Journal of Fuzzy Mathematics, 12, 755-764.
Puri, M.L. & Ralescu, D.A. (1986). Fuzzy Random Variables. Journal of Mathematical Analysis and Applications, 114, 409-422.
Carlsson, C. & Fuller, R. (2001). On possibilistic mean value and variance of fuzzy numbers. Fuzzy Sets and Systems, 122, 315-326.
Chung, C. S. & Flynn, J. (2001). A newsboy problem with reactive production. Computers and Operations Research, 28, 751-765.
Dubois, D. & Prade, H. (1987), The mean value of a fuzzy number. Fuzzy Sets and Systems, 24, 279-300.
Dutta, P., Chakraborty, D. & Roy, A.R. (2007). An inventory model for single period products with reordering strategy under fuzzy demand. Computers and Mathematics with Applications, 53, 1502-1517.
Hadley, G. & Whiten, T.M. (1963). Analysis of Inventory Systems, Prentice-Hall, Englewood Cliffs, NJ.
Khouja, M. (1999). The single-period (news-vender) inventory problem: a literature review and suggestions for future research. Omega, 27, 537-553.
Liou, T.-S. & Wang, M.-J. (1992). Ranking fuzzy numbers with integral value. Fuzzy Sets and Systems, 50, 247–255.
Lau, H. S. & Lau, A. H. L. (1997). Reordering strategies for a newsboy-type product. European Journal of Operational Research, 103, 557-572.
Lau, A. H. L. & Lau, H. S. (1998). Decision models for single-period products with two ordering opportunities. International Journal of Production Economics, 55, 57-70.
Luhandjula, M.K. (2004). Fuzzy random variable: A mathematical tool for combining randomness and fuzziness, The Journal of Fuzzy Mathematics, 12, 755-764.
Puri, M.L. & Ralescu, D.A. (1986). Fuzzy Random Variables. Journal of Mathematical Analysis and Applications, 114, 409-422.