Inventory Model with Demand Dependent on Unit Price under Fuzzy Parameters and Decision Variables | Zendy

Dr.S. Ranganayaki | Zendy; R. Kasthuri | Zendy; Dr.P. Vasanthi | Zendy

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Inventory Model with Demand Dependent on Unit Price under Fuzzy Parameters and Decision Variables

Author(s) -

Dr.S. Ranganayaki,

R. Kasthuri,

Dr.P. Vasanthi

Publication year - 2019

Publication title -

international journal of recent technology and engineering (ijrte)

Language(s) - English

Resource type - Journals

ISSN - 2277-3878

DOI - 10.35940/ijrte.c4013.098319

Subject(s) - economic order quantity , holding cost , fuzzy logic , economic shortage , defuzzification , mathematical optimization , mathematics , sensitivity (control systems) , variable (mathematics) , fuzzy number , unit (ring theory) , operations research , fuzzy set , econometrics , computer science , engineering , supply chain , artificial intelligence , linguistics , philosophy , mathematical analysis , mathematics education , electronic engineering , government (linguistics) , political science , law

An EOQ model with demand dependent on unit price is considered and a new approach of finding optimal demand value is done from the optimal unit cost price after defuzzification. Here the cost parameters like setup cost, holding cost and shortage cost and also the decision variables like unit price, lot size and the maximum inventory are taken under fuzzy environment. Triangular fuzzy numbers are used to fuzzify these input parameters and unknown variables. For the proposed model an optimal solution has been determined using Karush Kuhn-Tucker conditions method. Graded Mean Integration (GMI) method is used for defuzzification. Numerical solutions are obtained and sensitivity analysis is done for the chosen model

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