Table of Contents Author Guidelines Submit a Manuscript
Mathematical Problems in Engineering
Volume 2017, Article ID 2159281, 14 pages
https://doi.org/10.1155/2017/2159281
Research Article

A Multiproduct Single-Period Inventory Management Problem under Variable Possibility Distributions

1Risk Management & Financial Engineering Laboratory, College of Management, Hebei University, Baoding, Hebei 071002, China
2Fundamental Science Department, North China Institute of Aerospace Engineering, Langfang, Hebei 065000, China

Correspondence should be addressed to Zhaozhuang Guo; moc.361@4002gnauhzoahz

Received 2 August 2017; Revised 21 September 2017; Accepted 4 December 2017; Published 20 December 2017

Academic Editor: Jean-Pierre Kenne

Copyright © 2017 Zhaozhuang Guo et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. G. Hadley and T. M. Whitin, Analysis of Inventory Systems, Prentice-Hall, Englewood Cliffs, NJ, USA, 1963.
  2. S. Nahmias and C. P. Schmidt, “An efficient heuristic for the multi-item newsboy problem with a single constraint,” Naval Research Logistics Quarterly, vol. 31, no. 3, pp. 463–474, 1984. View at Publisher · View at Google Scholar · View at Scopus
  3. H.-S. Lau and A. H. L. Lau, “The multi-product multi-constraint newsboy problem: Applications, formulation and solution,” Journal of Operations Management, vol. 13, no. 2, pp. 153–162, 1995. View at Publisher · View at Google Scholar · View at Scopus
  4. S. J. Erlebacher, “Optimal and heuristic solutions for the multi-item newsvendor problem with a single capacity constraint,” Production Engineering Research and Development, vol. 9, no. 3, pp. 303–318, 2000. View at Google Scholar · View at Scopus
  5. I. Moon and E. A. Silver, “The multi-item newsvendor problem with a budget constraint and fixed ordering costs,” Journal of the Operational Research Society, vol. 51, no. 5, pp. 602–608, 2000. View at Publisher · View at Google Scholar · View at Scopus
  6. L. Abdel-Malek, R. Montanari, and D. Meneghetti, “The capacitated newsboy problem with random yield: The Gardener Problem,” International Journal of Production Economics, vol. 115, no. 1, pp. 113–127, 2008. View at Publisher · View at Google Scholar · View at Scopus
  7. G. Zhang, “The multi-product newsboy problem with supplier quantity discounts and a budget constraint,” European Journal of Operational Research, vol. 206, no. 2, pp. 350–360, 2010. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  8. B. Zhang and S. Du, “Multi-product newsboy problem with limited capacity and outsourcing,” European Journal of Operational Research, vol. 202, no. 1, pp. 107–113, 2010. View at Publisher · View at Google Scholar · View at Scopus
  9. L. L. Abdel-Malek and R. Montanari, “On the multi-product newsboy problem with two constraints,” Computers & Operations Research, vol. 32, no. 8, pp. 2095–2116, 2005. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  10. D. Huang, H. Zhou, and Q.-H. Zhao, “A competitive multiple-product newsboy problem with partial product substitution,” Omega , vol. 39, no. 3, pp. 302–312, 2011. View at Publisher · View at Google Scholar · View at Scopus
  11. A. Özler, B. Tan, and F. Karaesmen, “Multi-product newsvendor problem with value-at-risk considerations,” International Journal of Production Economics, vol. 117, no. 2, pp. 244–255, 2009. View at Publisher · View at Google Scholar · View at Scopus
  12. G. Van Ryzin and S. Mahajan, “On the relationship between inventory costs and variety benefits in retail assortments,” Management Science, vol. 45, no. 11, pp. 1496–1509, 1999. View at Publisher · View at Google Scholar · View at Scopus
  13. J. A. Van Mieghem, “Risk mitigation in newsvendor networks: Resource diversification, flexibility, sharing, and hedging,” Management Science, vol. 53, no. 8, pp. 1269–1288, 2007. View at Publisher · View at Google Scholar · View at Scopus
  14. S. Wang and W. Pedrycz, “Data-driven adaptive probabilistic robust optimization using information granulation,” IEEE Transactions on Cybernetics, 2017. View at Publisher · View at Google Scholar · View at Scopus
  15. G. L. Vairaktarakis, “Robust multi-item newsboy models with a budget constraint,” International Journal of Production Economics, vol. 66, no. 3, pp. 213–226, 2000. View at Publisher · View at Google Scholar · View at Scopus
  16. J. Kamburowski, “The distribution-free newsboy problem under the worst-case and best-case scenarios,” European Journal of Operational Research, vol. 237, no. 1, pp. 106–112, 2014. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  17. M.-H. Shu, C.-W. Yeh, and Y.-C. Fu, “Impacts of transportation cost on distribution-free newsboy problems,” Mathematical Problems in Engineering, vol. 2014, Article ID 307935, 2014. View at Publisher · View at Google Scholar · View at Scopus
  18. I. Moon, D. K. Yoo, and S. Saha, “The distribution-free newsboy problem with multiple discounts and upgrades,” Mathematical Problems in Engineering, vol. 2016, Article ID 2017253, 2016. View at Publisher · View at Google Scholar · View at Scopus
  19. O. Solyali, J. F. Cordeau, and G. Laporte, “The impact of modeling on robust inventory management under demand uncertainty,” Management Science, vol. 62, no. 4, pp. 1188–1201, 2016. View at Publisher · View at Google Scholar · View at Scopus
  20. R. Qiu and J. Shang, “Robust optimisation for risk-averse multi-period inventory decision with partial demand distribution information,” International Journal of Production Research, vol. 52, no. 24, pp. 7472–7495, 2014. View at Publisher · View at Google Scholar · View at Scopus
  21. S. Fay and J. Xie, “Timing of product allocation: Using probabilistic selling to enhance inventory management,” Management Science, vol. 61, no. 2, pp. 474–484, 2015. View at Publisher · View at Google Scholar · View at Scopus
  22. W. Luo and K. Shang, “Joint inventory and cash management for multidivisional supply chains,” Operations Research, vol. 63, no. 5, pp. 1098–1116, 2015. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  23. X. Chen, P. Hu, S. Shum, and Y. Zhang, “Dynamic stochastic inventory management with reference price effects,” Operations Research, vol. 64, no. 6, pp. 1529–1536, 2016. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  24. H. Mamani, S. Nassiri, and M. R. Wagner, “Closed-Form Solutions for Robust Inventory Management,” Management Science, vol. 63, no. 5, pp. 1625–1643, 2017. View at Publisher · View at Google Scholar
  25. J. Kacprzyk and P. Stanieski, “Long-term inventory policy-making through fuzzy decision-making models,” Fuzzy Sets and Systems, vol. 8, no. 2, pp. 117–132, 1982. View at Publisher · View at Google Scholar · View at Scopus
  26. D. Petrović, R. Petrović, and M. Vujošević, “Fuzzy models for the newsboy problem,” International Journal of Production Economics, vol. 45, no. 1–3, pp. 435–441, 1996. View at Publisher · View at Google Scholar
  27. N. K. Mandal and T. K. Roy, “A displayed inventory model with L-R fuzzy number,” Fuzzy Optimization and Decision Making. A Journal of Modeling and Computation Under Uncertainty, vol. 5, no. 3, pp. 227–243, 2006. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  28. X. Y. Ji and Z. Shao, “Fuzzy multi-product constraint newsboy problem,” Applied Mathematics and Computation, vol. 180, no. 1, pp. 7–15, 2006. View at Publisher · View at Google Scholar · View at MathSciNet
  29. P. Dutta, “A multi-product newsboy problem with fuzzy customer demand and a storage space constraint,” International Journal of Operational Research, vol. 8, no. 2, pp. 230–246, 2010. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  30. A. Saha, S. Kar, and M. Maiti, “Multi-item fuzzy-stochastic supply chain models for long-term contracts with a profit sharing scheme,” Applied Mathematical Modelling, vol. 39, no. 10-11, pp. 2815–2828, 2015. View at Publisher · View at Google Scholar · View at Scopus
  31. Z.-Z. Guo, “Optimal inventory policy for single-period inventory management problem under equivalent value criterion,” Journal of Uncertain Systems, vol. 10, no. 4, pp. 302–311, 2016. View at Google Scholar · View at Scopus
  32. S.-N. Tian and Z.-Z. Guo, “A credibilistic optimization approach to single-product single-period inventory problem with two suppliers,” Journal of Uncertain Systems, vol. 10, no. 3, pp. 223–240, 2016. View at Google Scholar · View at Scopus
  33. Z.-Q. Liu and Y.-K. Liu, “Type-2 fuzzy variables and their arithmetic,” Soft Computing, vol. 14, no. 7, pp. 729–747, 2010. View at Publisher · View at Google Scholar · View at Scopus
  34. Y. Liu and Y.-K. Liu, “The lambda selections of parametric interval-valued fuzzy variables and their numerical characteristics,” Fuzzy Optimization and Decision Making. A Journal of Modeling and Computation Under Uncertainty, vol. 15, no. 3, pp. 255–279, 2016. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  35. Y. Chen and S. Shen, “The cross selections of parametric Interval-Valued fuzzy variables,” Journal of Uncertain Systems, vol. 9, no. 2, pp. 156–160, 2015. View at Google Scholar · View at Scopus
  36. Y.-K. Liu and Z.-Z. Guo, “Arithmetic about linear combinations of GPIV fuzzy variables,” Journal of Uncertain Systems, vol. 11, no. 2, pp. 154–160, 2017. View at Google Scholar
  37. M. Carter and B. van Brunt, The Lebesgue-Stieltjes Integral, Spinger-Verlag, New York, NY, USA, 2000. View at Publisher · View at Google Scholar · View at MathSciNet
  38. Z. Guo, Y. Liu, and Y. Liu, “Coordinating a three level supply chain under generalized parametric interval-valued distribution of uncertain demand,” Journal of Ambient Intelligence and Humanized Computing, vol. 8, no. 5, pp. 677–694, 2017. View at Publisher · View at Google Scholar
  39. S. Wang, T. S. Ng, and M. Wong, “Expansion planning for waste-to-energy systems using waste forecast prediction sets,” Naval Research Logistics, vol. 63, no. 1, pp. 47–70, 2016. View at Publisher · View at Google Scholar · View at MathSciNet
  40. X. Bai and Y. K. Liu, “Robust optimization of supply chain network design in fuzzy decision system,” Journal of Intelligent Manufacturing, vol. 27, no. 6, pp. 1131–1149, 2016. View at Publisher · View at Google Scholar
  41. Y. Liu and Y.-K. Liu, “Distributionally robust fuzzy project portfolio optimization problem with interactive returns,” Applied Soft Computing, vol. 56, pp. 655–668, 2017. View at Publisher · View at Google Scholar
  42. S. Wang, B. Wang, and J. Watada, “Adaptive Budget-Portfolio Investment Optimization Under Risk Tolerance Ambiguity,” IEEE Transactions on Fuzzy Systems, vol. 25, no. 2, pp. 363–376, 2017. View at Publisher · View at Google Scholar
  43. S. Wang and W. Pedrycz, “Robust granular optimization: a structured approach for optimization under integrated uncertainty,” IEEE Transactions on Fuzzy Systems, vol. 23, no. 5, pp. 1372–1386, 2015. View at Publisher · View at Google Scholar
  44. B. Liu and Y. Liu, “Expected value of fuzzy variable and fuzzy expected value models,” IEEE Transactions on Fuzzy Systems, vol. 10, no. 4, pp. 445–450, 2002. View at Publisher · View at Google Scholar · View at Scopus
  45. Y.-K. Liu and Y. Liu, “Measure generated by joint credibility distribution function,” Journal of Uncertain Systems, vol. 8, no. 9, pp. 239-240, 2014. View at Google Scholar · View at Scopus