Open AccessInventory Model with Demand Dependent on Unit Price under Fuzzy Parameters and Decision Variables
Author(s) -
Dr.S. Ranganayaki*,
Dr.R. Kasthuri,
Dr.P. Vasanthi*
Publication year - 2019
Publication title -
international journal of recent technology and engineering
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 , mathematics , mathematical optimization , sensitivity (control systems) , fuzzy number , variable (mathematics) , unit (ring theory) , fuzzy set , operations research , econometrics , computer science , engineering , supply chain , artificial intelligence , linguistics , philosophy , mathematical analysis , electronic engineering , government (linguistics) , political science , law , mathematics education
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