Multi-product constrained newsboy problem with fuzzy demand

In this paper, we consider the multi-product newsboy problem with fuzzy demands under budget constraint. Because the demands of products are often fuzzy in real life, the profit of the newsboy is fuzzy too. We develop three types of models under different criteria: EVM model, DCP model and CCP model. In these models, the objective function are to maximize the expected profit of newsboy, the chance of achieving a target profit and the profit which satisfies some chance constraints with at least some given confidence level respectively. Furthermore, the hybrid intelligent algorithm based on genetic algorithm and fuzzy simulation is designed for these models.