Fuzzy Inventory Model of Deteriorating Items under Power Dependent Demand and Inventory Level Dependent Holding Cost Function

 Paper Title:

Fuzzy Inventory Model of Deteriorating Items under Power Dependent Demand and Inventory Level Dependent Holding Cost Function

Authors:

Biswaranjan Mandal, Acharya Jagadish Chandra Bose College, India

Abstract:

The present paper deals with the development of a fuzzy inventory model of deteriorating items under power demand rate and inventory level dependent holding cost function. The deterioration rate, demand rate, holding cost and unit cost are considered as trapezoidal fuzzy numbers. Both the crisp model and fuzzy model are developed in this paper. The graded mean integration method(GM) and signed distance method(SD) are used to defuzzify the total cost of the present model. Both the models are illustrated by suitable numerical examples and a sensitivity analysis for the optimal solution towards changes in the system parameters are discussed. Lastly a graphical presentation is furnished to compare the total costs under the above two mentioned methods in the fuzzy model. 

Keywords:

Inventory, deterioration, fuzzy, trapezoidal fuzzy numbers and defuzzify

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