A deteriorating EOQ model for natural idle time and imprecise demand: hesitant fuzzy approach. Issue 4 (2nd October 2017) - Karmakar, Snigdha
ABSTRACT: This paper deals with managerial decision-making for a deteriorating economic order quantity (EOQ) inventory model for natural idle time and imprecise demand under hesitant fuzzy environment. Also, the unavoidable situations like deterioration of the items and impreciseness of the demand rate are considered. However, the inventory processing time itself splits into a specific emergent natural idle time, a finite opening time and closing time as well. Again to select the best alternative, a decision-maker will have to think of different attributes of a particular commodity for which all parameters differ anonymously. In fuzzy environment, several articles are available in the literature but the inclusion of hesitant fuzzy set in inventory management problem is quite new. Here we have developed a hesitant fuzzy decision matrix first, and then some aggregation operators like hesitant fuzzy weighted geometric (HFWG), hesitant fuzzy geometric (HFG), hesitant fuzzy Einstein weighted geometric (HFEWG) and hesitant fuzzy Einstein ordered weighted geometric (HFEOWG) have been used to derive the score values of each alternative and rank them. Finally, the decision is compared with that of fuzzy optimal solutions and ends with a conclusion keeping some scope of future works.