Fuzzy Inventory Model for Deteriorating Items with Exponentially Decreasing Demand under Fuzzified Cost and Partial Backlogging

Bhabani S. Mohanty; P.K. Tripathy

doi:https://doi.org/10.14445/22315373/IJMTT-V51P524

International Journal of Mathematics Trends and Technology

Research Article | Open Access | Download PDF

Volume 51 | Number 3 | Year 2017 | Article Id. IJMTT-V51P524 | DOI : https://doi.org/10.14445/22315373/IJMTT-V51P524

Fuzzy Inventory Model for Deteriorating Items with Exponentially Decreasing Demand under Fuzzified Cost and Partial Backlogging

Bhabani S. Mohanty, P.K. Tripathy

Citation :

Bhabani S. Mohanty, P.K. Tripathy, "Fuzzy Inventory Model for Deteriorating Items with Exponentially Decreasing Demand under Fuzzified Cost and Partial Backlogging," International Journal of Mathematics Trends and Technology (IJMTT), vol. 51, no. 3, pp. 182-189, 2017. Crossref, https://doi.org/10.14445/22315373/IJMTT-V51P524

Abstract

Due to technological advancement and business competition, the demand of electronic commodity and software products decreases with time. So in the present paper, we develop an inventory model for deteriorating items with constant deterioration and exponentially decreasing demand. Shortages are allowed in the model and are partially backlogged. This model also considers fuzzy based cost components (holding cost, shortage cost etc.) and deterioration. All related costs are assumed to be trapezoidal fuzzy numbers. Here signed distance and gradient mean integration method is used for defuzzification. We provide simple analytical tractable procedure for optimal inventory replenishment policy of the model and give numerical examples to illustrate the result. Sensitivity analysis of the major parameters with respect to the optimal solution is also carried out. This paper provides an interesting topic for further study, such that the joint influence from some of these parameters may be investigated to show the effects.

Keywords

Graded Mean Integration, Signed Distance Method, Partial Backlogging.

References

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