This paper considers a multi item single period inventory problem with floor space constraint where the demand of the items follows probability distributions. Two different stochastic models are discussed where the de...
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This paper considers a multi item single period inventory problem with floor space constraint where the demand of the items follows probability distributions. Two different stochastic models are discussed where the demand follows Uniform distribution and Exponential distribution respectively. Firstly the fixed reorder quantity system with backorder and secondly fixed reorder quantity system with lost sales are discussed. Then consideration is adopted as a multi objective stochastic inventory model where average annual cost of the first item as well as the same of the second item are minimized simultaneously and is also formulated in fuzzy environment introducing fuzziness in the objectives. In this paper the concept of general fuzzy non-linear programming Technique is applied to solve a multi objective single period stochastic inventory problem with floor space constraint. The solution is illustrated by numerical example and the results of different models are compared.
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