Open AccessMulti-objective economic production quantity model for fully backlogged problem where demand depend on some conditions and permissible delay in payment
Author(s) -
Abhishek Kanti Biswas,
Sahidul Islam
Publication year - 2019
Publication title -
independent journal of management and production
Language(s) - English
Resource type - Journals
ISSN - 2236-269X
DOI - 10.14807/ijmp.v10i3.865
Subject(s) - imperfect , payment , economic shortage , computer science , production (economics) , interval (graph theory) , space (punctuation) , variable (mathematics) , economic production quantity , fuzzy logic , mathematical optimization , operations research , economics , microeconomics , mathematics , artificial intelligence , mathematical analysis , philosophy , linguistics , combinatorics , government (linguistics) , world wide web , operating system
For any business, inventory system takes a monumental part. Keep this aspect in mind, we formulate multi-objective displayed EPQ model consider with non-instantaneous deteriorating things where production depends on demand and variable demand pattern depends on display self-space, selling price and frequency of advertisement of the item. The customers are more attracted to buy an item by observing self-space, selling price and advertisement. Imperfect materials are now and again come back to providers for a discount or credit. Here price discount is available for deteriorated and defective items. Holding cost varies with time where shortages are allowed and fully backlogged. Fuzzy environment touches the reality instead of the crisp environment. So, we assumed the cost components as Triangular Fuzzy Numbers and Nearest Interval Approximation Method is used to defuzzify the model. Finally, numerical examples as well as sketches are given to illustrate the model.