An experience-based system supporting inventory planning: A fuzzy approach

Abstract: The study aims to extend the Uncapacitated Fuzzy Single Item Lot Sizing Problem (known as F-USILSP) model and extend it for inventory planning. The F-USILSP model is a good choice when there is no statistical data collection, but where there is verbal or qualitative information from experts with experience. Previously, the mixed integer linear programming (MILP) relied on the crisp assumption which hinders the use of the F-USILSP. In this paper, a Possibility Approach is adapted to convert the F-USILSP to a mathematically solvable equivalent crisp USILSP (EC-USILSP). The EC-USILSP model is tested with a case. The organization under study is a petrochemical company power plant with trapezoidal fuzzy demand and triangular fuzzy unit price. The overall results show that the EC-USILSP is more practical and exhibits more flexibility when there is a need to add more realistic situations. [Copyright &y& Elsevier]