Open AccessThe Economic Order Quantity in a Fuzzy Environment for a Periodic Inventory Model with Variable Demand
Author(s) -
K. Kalaiarasi,
H. Mary Henrietta,
M. Sumathi,
A. Stanley Raj
Publication year - 2021
Publication title -
iraqi journal for computer science and mathematics
Language(s) - English
Resource type - Journals
eISSN - 2958-0544
pISSN - 2788-7421
DOI - 10.52866/ijcsm.2022.01.01.011
Subject(s) - economic order quantity , fuzzy logic , holding cost , variable (mathematics) , fuzzy number , sensitivity (control systems) , nonlinear system , mathematical optimization , order (exchange) , mathematics , limiting , operations research , fuzzy set , computer science , economics , engineering , artificial intelligence , business , mathematical analysis , mechanical engineering , marketing , electronic engineering , quantum mechanics , physics , supply chain , finance
The technique of limiting expenditure plays a critical part in an organization's ability to govern the smooth operation of its management system. The economic order quantity (EOQ) is calculated by solving a nonlinear problem, and the best solution is investigated in a fuzzy and intuitionistic fuzzy environment. The overall cost is made up of several factors, such as demand, holding, and ordering costs. The demand and stock-out characteristics were both fuzzified using fuzzy and intuitionistic fuzzy numbers. The numerical analysis shows the comparison between the two fuzzy numbers through sensitivity analysis.
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