%0 Journal Article %1 noauthororeditor %A "Pavan, Kumar" %D 2015 %J Operations Research and Applications : An International Journal (ORAJ) %K Fractional Interval-valued Inventory Price-dependent demand function model programming %N 4 %P 17-30 %R 10.5121/oraj.2015.2402 %T INVENTORY MODEL WITH PRICE-DEPENDENT DEMAND RATE AND NO SHORTAGES : AN INTERVAL-VALUED LINEAR FRACTIONAL PROGRAMMING APPROACH %U http://airccse.com/oraj/papers/2415oraj02.pdf %V 2 %X In this paper, an interval-valued inventory optimization model is proposed. The model involves the pricedependent demand and no shortages. The input data for this model are not fixed, but vary in some real bounded intervals. The aim is to determine the optimal order quantity, maximizing the total profit and minimizing the holding cost subjecting to three constraints: budget constraint, space constraint, and budgetary constraint on ordering cost of each item. We apply the linear fractional programming approach based on interval numbers. To apply this approach, a linear fractional programming problem is modeled with interval type uncertainty. This problem is further converted to an optimization problem with intervalvalued objective function having its bounds as linear fractional functions. Two numerical examples in crisp case and interval-valued case are solved to illustrate the proposed approach.

@article{noauthororeditor, abstract = {In this paper, an interval-valued inventory optimization model is proposed. The model involves the pricedependent demand and no shortages. The input data for this model are not fixed, but vary in some real bounded intervals. The aim is to determine the optimal order quantity, maximizing the total profit and minimizing the holding cost subjecting to three constraints: budget constraint, space constraint, and budgetary constraint on ordering cost of each item. We apply the linear fractional programming approach based on interval numbers. To apply this approach, a linear fractional programming problem is modeled with interval type uncertainty. This problem is further converted to an optimization problem with intervalvalued objective function having its bounds as linear fractional functions. Two numerical examples in crisp case and interval-valued case are solved to illustrate the proposed approach. }, added-at = {2018-06-26T11:23:56.000+0200}, author = {"Pavan, Kumar"}, biburl = {https://www.bibsonomy.org/bibtex/2c8aec1bec1a63ede415cecc4ebaff53a/oraj}, doi = {10.5121/oraj.2015.2402}, interhash = {abca0dac99a2c1a025c8a6fa51554648}, intrahash = {c8aec1bec1a63ede415cecc4ebaff53a}, journal = {Operations Research and Applications : An International Journal (ORAJ)}, keywords = {Fractional Interval-valued Inventory Price-dependent demand function model programming}, month = {November}, number = 4, pages = {17-30}, timestamp = {2018-06-26T11:23:56.000+0200}, title = {INVENTORY MODEL WITH PRICE-DEPENDENT DEMAND RATE AND NO SHORTAGES : AN INTERVAL-VALUED LINEAR FRACTIONAL PROGRAMMING APPROACH }, url = {http://airccse.com/oraj/papers/2415oraj02.pdf}, volume = 2, year = 2015 }