Random Fuzzy Demand Newsboy Problem

Abstract For the more realistic description of the uncertain demand, the newsboy model with random fuzzy demand that maximizes the profit is developed. By the credibility measure of fuzzy event, the expected profit model is presented. Moreover, the concavity of the profit function is revealed. A hybrid algorithm integrating the random fuzzy simulation and simultaneous perturbation stochastic approximation is designed to obtain the optimal order quantity. Finally, numeral examples are given to illustrate the effect of the hybrid algorithm.

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