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Application of Fractional Calculus on the Crisp and Uncertain Inventory Control Problem
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Author(s): Mostafijur Rahaman (Indian Institute of Engineering Science and Technology, Shibpur, India), Sankar Prasad Mondal (Maulana Abul Kalam Azad University of Technology, West Bengal, India), Banashree Chatterjee (Dr. B. C. Roy Engineering College, India)and Shariful Alam (Indian Institute of Engineering Science and Technology, Shibpur, India)
Copyright: 2022
Pages: 29
Source title:
Handbook of Research on Advances and Applications of Fuzzy Sets and Logic
Source Author(s)/Editor(s): Said Broumi (Laboratory of Information Processing, Faculty of Science Ben M’Sik, University Hassan II, Casablanca, Morocco & Regional Center for the Professions of Education and Training (CRMEF), Casablanca-Settat, Morocco)
DOI: 10.4018/978-1-7998-7979-4.ch006
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Abstract
This chapter explores the possible application of fractional calculus in the field of operation research, more specifically inventory control problem. The sense of memory can be implemented in a dynamical system with the mathematical manipulation through fractional calculus. In this chapter, some recently published papers on generalized lot-sizing models described by fractional differential equation in crisp as well as uncertain environments are reviewed. The intuitional applicability, obstacles, and challenges for studying the inventory management problems under fractional differential equation (in Riemann-Liouville and Caputo approaches) are discussed in this chapter.
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