Study on Fuzzy Inventory Models

The intensive competition in today's operating environment has made it increasingly important for industrial enterprises to continuously seek the best practices towards managing their operations .In particular, the optimization of fuzzy order and production inventory model provide a vital step towards a better fulfillment of customers' minimum total cost. The vendor and buyer usually establish a long term production purchasing agreement before any action is taken and then work together towards maximizing their profit. To develop an optimized fuzzy inventory schedule that considers the above inter-related factors under static demand conditions. We seek to study several alternative solution algorithms like graded mean integration method and signed distance method implies varying performance capabilities in terms of efficiency and quality of solutions obtained.It is geared towards optimizing the production and inventory related decisions while taking into account the geometric nature of the operating environment.the goal is to incorporate both internal as well as external sources of uncertainty associated with production capacity and customers' demand into the planning decisions.