Inventory Model for Deteriorating Items Involving Fuzzy with Shortages and Exponential Demand

Vijai Stanly, Sharmila; Uthayakumar, R

doi:10.22034/2015.3.05

Inventory Model for Deteriorating Items Involving Fuzzy with Shortages and Exponential Demand

Document Type : Research Paper

Authors

The Gandhigram Rural Institute, Deemed University, Gandhigram, India

10.22034/2015.3.05

Abstract

This paper considers the fuzzy inventory model for deteriorating items for power demand under fully backlogged conditions. We define various factors which are affecting the inventory cost by using the shortage costs. An intention of this paper is to study the inventory modelling through fuzzy environment. Inventory parameters, such as holding cost, shortage cost, purchasing cost and deterioration cost are assumed to be the trapezoidal fuzzy numbers. In addition, an efficient algorithm is developed to determine the optimal policy, and the computational effort and time are small for the proposed algorithm. It is simple to implement, and our approach is illustrated through some numerical examples to demonstrate the application and the performance of the proposed methodology.

Keywords

Main Subjects

optimization in supply chain management

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