A fuzzy replenishment policy for deteriorating items with ramp type demand rate under inflation. (18th May 2009)

• Record Type: Journal Article
• Authors: Mahata, G.C.; Goswami, A.
• Is Part Of: International journal of operational research. Volume 5:Number 3(2009)
• Page Start: 328
• Page End: 348
• Publication Date: 2009-05-18
• Subjects: inventory control -- ramp type demand rate -- deteriorating items -- fuzzy cost coefficients -- graded mean integration representation -- fuzzy replenishment -- inflation -- replenishment policy -- inventory modelling; Operations research -- Periodicals; 003.05
• Languages: English
• ISSNs: 1745-7645

Abstract

Normally, the real-world inventory control problems are imprecisely defined and human interventions are often required to solve these decision-making problems. In this paper, a realistic inventory model with imprecise inventory costs have been formulated for deteriorating items under inflation. Shortages are allowed and the demand rate is taken as a ramp type function of time as well. For generality, we not only provide the solution for the inventory system, where the inventory starts with no shortages; but also enumerate two possible shortage models in the fuzzy sense. We have introduced fuzzy multi-objective mathematical programming with the triangular fuzzy number and it is applied as cost coefficients to the inventory problem. Pareto optimal solution of this multi-objective mathematical programming is established. Numerical example has been provided to illustrate the problem. Finally, sensitivity analysis is carried out to identify the most sensitive parameters in the system.