Study On Multi-Objective Inventory Model Integrated With Decision Maker’s Preference With Fuzzy Parameters

The evolution of inventory theory came along with the down of the era of large-scale industrialization. Inventory is an important component of the product operation of a firm, and it served as a reservoir. Classical inventory model had played an indispensable role for guiding production practice. However, with increasingly complicated market activities, the deterministic model with many presumptions will no longer strictly applicable to reality because of fuzzy market information, the outcomes of the theoretical model often has discrepancy with the real practices. Therefore, using new mathematical tools, in this paper, we will study the fuzzy model, and it is worthwhile trying to make the conclusions close to reality better.In the fuzzy environment, because of the imprecise information, the verdict of a decision-maker is particularly important for guiding production practice, and their preference will be significantly influence the results of the fuzzy model. Therefore, integrate the preference of a decision-maker into the model, will not only can better reflect the will of theirs’, but can also made the outcomes better compatible to real-time market information.The main content of this paper is to construct a fuzzy multi-objective inventory model, and describe the fuzzy model with piecewise linear membership function. In the process of solution, the preference of a decision-maker influences the outcomes of the model by change the cost parameters and specify the relative weight of each objective. Then introduce triangular fuzzy number theory to notate the fuzzy cost parameters that are fused with the preference of a decision-maker, and translate the fuzzy restrictive equations to corresponding membership functions. Using convex operator to translate the multi-objective model to a single-objective model, then primal geometric programming is introduced to reason out the variables. Finally, apply sensitivity analysis to a case study with the outcomes of above chapters, and the result is satisfying, indicate the practical value of fuzzy multi-objective inventory model.