Intuitionistic Fuzzy Inventory Model with Deterioration Incorporating Advance Payment with Time-Dependent Demand

2021 ◽  
Vol 7 (6) ◽  
Author(s):  
Puja Supakar ◽  
Sanat Kumar Mahato ◽  
Pintu Pal
Keyword(s):  
Inventory Model ◽  
Time Dependent ◽  
Intuitionistic Fuzzy ◽  
Advance Payment ◽  
Fuzzy Inventory ◽  
Dependent Demand ◽  
Fuzzy Inventory Model

A Fuzzy Inventory Model for Weibull Deteriorating Items with Price-Dependent Demand and Shortages under Permissible Delay in Payment

2012 ◽  
Vol 1 (2) ◽  
pp. 53-79
Author(s):  
Chandra K. Jaggi ◽  
Sarla Pareek ◽  
Anuj Sharma ◽  
Nidhi
Keyword(s):  
Cycle Length ◽  
Optimal Solution ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Selling Price ◽  
Profit Function ◽  
Permissible Delay In Payment ◽  
Fuzzy Inventory ◽  
Dependent Demand ◽  
Fuzzy Inventory Model

In this paper, a fuzzy inventory model is formulated for deteriorating items with price dependent demand under the consideration of permissible delay in payment. A two parameter Weibull distribution is taken to represent the time to deterioration. Shortages are allowed and completely backlogged. For Fuzzification of the model, the demand rate, holding cost, unit purchase cost, deterioration rate, ordering cost, shortage cost, interest earn and interest paid are assumed to be triangular fuzzy numbers. As a result, the profit function will be derived in fuzzy sense in order to obtain the optimal stock-in period, cycle length and the selling price. The graded mean integration method is used to defuzzify the profit function. Then, to test the validity of the model a numerical example is considered and solved. Finally, to study the effect of changes of different parameters on the optimal solution i.e. average profit, order quantity, stock-in period, cycle length and selling price, sensitivity analysis are performed.

Sign in / Sign up

Export Citation Format

Share Document