A product mix problem based on maximization of the total profit and reduction of excessive inventories including uncertainty

Takashi Hasuike, Hiroaki Ishii

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

This paper considers a product mix problem both maximizing the total future profit and reducing excessive inventories including uncertainty with respect to future profits and customers' demands. Furthermore, since a decision maker has a goal with respect to the total future profit and each inventory of the product, in this paper, aspiration levels for them are also introduced. The proposal product mix problem is formulated as a multi-criteria programming problem considering maximizing all aspiration levels assumed to be fuzzy goals. Then, since each future return and customer's demand are assumed to be random variables, this problem including randomness is basically formulated as a multi-criteria stochastic programming problem. Since it is hard to solve it analytically, the transformations into deterministic equivalent problems are introduced and the efficient solution methods are constructed.

Original languageEnglish
Title of host publication3rd International Conference on Innovative Computing Information and Control, ICICIC'08
DOIs
Publication statusPublished - 2008
Event3rd International Conference on Innovative Computing Information and Control, ICICIC'08 - Dalian, Liaoning, China
Duration: 2008 Jun 182008 Jun 20

Publication series

Name3rd International Conference on Innovative Computing Information and Control, ICICIC'08

Other

Other3rd International Conference on Innovative Computing Information and Control, ICICIC'08
CountryChina
CityDalian, Liaoning
Period08/6/1808/6/20

ASJC Scopus subject areas

  • Computer Science Applications
  • Software
  • Control and Systems Engineering

Fingerprint Dive into the research topics of 'A product mix problem based on maximization of the total profit and reduction of excessive inventories including uncertainty'. Together they form a unique fingerprint.

  • Cite this

    Hasuike, T., & Ishii, H. (2008). A product mix problem based on maximization of the total profit and reduction of excessive inventories including uncertainty. In 3rd International Conference on Innovative Computing Information and Control, ICICIC'08 [4603471] (3rd International Conference on Innovative Computing Information and Control, ICICIC'08). https://doi.org/10.1109/ICICIC.2008.80