Yan-Kuen Wu - School of International Business, Shaoxing Key Laboratory of Intelligent Monitoring and Prevention of Smart City, Zhejiang Yuexiu University of Foreign Languages.
Ching Weng - Center for Fundamental Science and Research Center for Nonlinear Analysis and Optimization, Kaohsiung Medical University, Kaohsiung ۸۰۷۰۸, Taiwa
Yuan Hsu - Research Center of Finance, Shanghai Business School, Shanghai, China
Wang Xian - School of Digital Commerce, Zhejiang Yuexiu University of Foreign Languages

Fuzzy relational inequalities composed by the min-product operation are established to model the optimal pricing with fixed priority in a single product supply chain system. The solution algorithm has been proposed for solving such an optimization problem and finding the optimal solution (is called lexicographic maximum solution). In this study, a novel approach is proposed to finding the optimal pricing with fixed priority in a single product supply chain system. This approach is based on new properties of solution set in a min-product fuzzy relational inequality. These new properties allow us directly determine the optimal value of variable without many duplicate checks in the solution procedure. A numerical example is provided to illustrate the procedure.

Fuzzy relational inequalities, min-product operation, lexicographic maximum solution, optimal pricing