Grey System Approach for Economic Order Quantity Models under Uncertainty

摘要

In this study, contrary to the classical Economic Order Quantity (EOQ) models unit holding and order cost parameters are included in the model as interval grey numbers and the grey prediction model has been used to forecast annual demand rate. To determine optimal order quantity, total cost function, which is also an interval grey numer mathematical operations. The total cost function has been whitenized first by using equal qeight mean whitenization then fuzzy mathematical programming methods and obtained results have been compared for different cost parameters. The analysis of the results show that for whetinization of interval valued functions equal weight mean whitenization method is better than fuzzy mathematical programming method which needs very complicated mathematical operations.