Optimization of Inventory with Fuzzy Multi-Objective Approach

Subject Areas : Financial Accounting

Ardeshir Ahmadian ¹ , Fatemeh Sarraf ² , Zohreh Hajiha ³ , Naser Khani ⁴

1 - Ph.D candidate, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
2 - Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
3 - Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
4 - Department of Management, Najaf Abad Tehran Branch, Islamic Azad University, Esfahan, Iran

Received: 2024-06-01 Accepted : 2024-10-14 Published : 2024-10-29

Keywords: Sequential Inventory System , Statistical Averaging Methods, Inventory Optimization,

Abstract :

Resource management is a part of project management and its ultimate goal is to achieve maximum efficiency with the lowest level of inventory. Resource management is built around optimization and increased efficiency. In this paper, inventory optimization is done using fuzzy approach and statistical averaging methods are used to solve fuzzy multi-objective linear programming problems. These methods have been used to form a goal function of fuzzy multi-objective linear programming problems. First, in order to optimize inventory and find the weight of each product in Isfahan Steel Company, a model of fuzzy multi-objective linear programming problem is estimated. The highest weight of products is related to commodity ingots and the lowest weight related to other products. The Fuzzy Multi-Objective Linear Programming Estimation Model has compared the statistical methods with the Chondrasen method. The results show that this method has the capacity to optimize the amount of inventory, reduce storage costs and reduce interest costs due to working capital.

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