Open AccessOptimization of Inventory Model Cost Parameters, Inventory and Lot Size as Fuzzy Numbers
Author(s) -
R. Kasthuri,
P Vasanthi,
S Ranganayaki
Publication year - 2020
Publication title -
international journal of engineering and advanced technology
Language(s) - English
Resource type - Journals
ISSN - 2249-8958
DOI - 10.35940/ijeat.a1893.1010120
Subject(s) - holding cost , fuzzy logic , defuzzification , inventory cost , mathematical optimization , economic order quantity , fuzzy number , cycle count , constant (computer programming) , mathematics , total cost , inventory control , unit (ring theory) , inventory theory , operations research , computer science , fuzzy set , economics , artificial intelligence , supply chain , mathematics education , microeconomics , political science , law , programming language
In general, the demand rate and the unit cost of the items remains constant inspite of lot size in inventory models. But in reality, the demand rate and the unit cost of the items are connected together. In this research, demand dependent unit cost inventory model is considered where different cost parameters, maximum inventory and the lot size of the model are taken under fuzzy environment. First an analytic solution of the crisp model is obtained by the method of calculus where the inventory parameters are exact and deterministic. Later, the problem is developed with fuzzy parameters where inaccuracy has been introduced through triangular membership function.Then the defuzzification of the model is done by using the method of Graded mean integration. An optimal solution is obtained using Karush Kuhn-Tucker conditions approach. An illustrative model is done and an analysis of total cost for different measures of possibility are performed and tabulated.