Multisection Technique to Solve Interval-valued Purchasing Inventory Models without Shortages

Abstract

This \u00a0paper \u00a0investigates \u00a0an \u00a0interval \u00a0valued \u00a0economic \u00a0order \u00a0quantity \u00a0(EOQ) \u00a0problem \u00a0without shortage. \u00a0Since \u00a0it \u00a0is \u00a0almost \u00a0impossible \u00a0to \u00a0find \u00a0an \u00a0analytic \u00a0method \u00a0to \u00a0solve \u00a0the \u00a0proposed \u00a0model, \u00a0an optimization algorithm is designed. First, a brief survey of the existing works on comparing and ranking any two \u00a0interval \u00a0numbers \u00a0on \u00a0the \u00a0real \u00a0line \u00a0is \u00a0presented. \u00a0Finally, \u00a0the \u00a0effectiveness \u00a0of \u00a0the \u00a0designed \u00a0algorithm \u00a0is illustrated by a numerical example.