FUZZY MODELS FOR THE NEWSBOY PROBLEM

This paper presents two fuzzy models for the newboy problem in an unce rtain environment. It is assumed that uncertainties may appear in dema nd and in inventory costs. Fuzzy demand is used to describe a subjecti ve estimate, linguistically expressed by the phrase ''demand is about d''. Also, fuzzy demand could be derived from evidences about demand r ecorded in the past. Imprecise inventory costs, such as overage and sh ortage costs, are represented by fuzzy sets, too. The quantity that sh ould be ordered for a fixed time period minimizes the possible total c ost. The computational aspects of the fuzzy models and their interpret ations are illustrated by examples.