|
A Fuzzy Multi-Objective Model for Joint Optimization of Production, Inventory, and Pricing Decisions in Oil and Gas Industry: Balancing Profitability and Technical Readiness under Uncertainty
|
Marzieh Mozafari *1   |
| 1- , m_mozafari@azad.ac.ir |
|
|
Abstract: (15 Views) |
In the aftermath of recent economic crises, companies in the oil and gas sector are increasingly seeking strategies to enhance sales, reduce operational costs, and achieve sustainable profitability. Effective revenue management and cost optimization have therefore become essential to maintaining competitiveness. Considering the inherent volatility of demand in this industry-driven by economic, political, and environmental factors—this study develops a fuzzy multi-objective optimization model to jointly determine optimal production, inventory, and pricing decisions for oil and gas products.
The model pursues two conflicting objectives: maximizing total profit and maximizing technical readiness, represented by indicators such as technological level, number of skilled technical staff, and equipment lifetime. To capture demand uncertainty, triangular fuzzy demand is applied, and the problem is formulated as a multi-product, dynamic optimization model. The model is first validated on small-scale instances using an exact solution method, and then solved for larger instances via the Non-dominated Sorting Genetic Algorithm II (NSGA-II). Sensitivity analysis results reveal the significant influence of nine key parameters on profitability, technical readiness, and product pricing, confirming the robustness and managerial relevance of the proposed approach.
Keywords: Production, Inventory and Pricing Decisions (L11), Fuzzy Multi-Objective Model; Oil and gas industry, Profitability, Technical Readiness
|
|
| |
|
|
|
Type of Study: Thesis(PhD.) |
Subject:
گازهاي گلخانه اي-دي اكسيد كربن-سوخت هاي فسيلي
Received: 2025/11/2 | Accepted: 2025/10/2 | Published: 2025/10/2 | ePublished: 2025/10/2
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
