2101 Words9 Pages

Optimization of Fuzzy Inventory Model with Trended Deterioration and Salvage

*N.K.Sahoo & **P.K.Tripathy

* P.G. Dept. of Mathematics, Utkal University, Bhubaneswar-751004 narenmaths@yahoo.co.in **P.G. Dept. of Statistics, Utkal University, Bhubaneswar-751004 msccompsc@gmail.com Abstract:- This paper deals with the development of a fuzzy inventory model with trended deterioration and salvage. The deterioration rate, holding cost, unit cost and salvage value are taken as trapezoidal fuzzy numbers. Both Graded Mean Integration and Signed Distance Method are used to defuzzify the total cost function. Mathematical model has been developed for determining the optimal order quantity, optimal cycle time and optimal total inventory cost. Numerical*…show more content…*

Hsieh, C.H.: Optimization of fuzzy production inventory models. Information Sciences. 146, 29-40 (2002).

8. Jaggi, C.K., Aggarwal, K.K., Goel, S.K.: Optimal order policy for deteriorating items with inflation induced demand. Int. J. Prod. Eccon. 103, 707-714 (2006).

9. Jaggi, C.K., Pareek, S., Sharma, A., Nidhi.: Fuzzy Inventory Model for Deteriorating Items with Time-varying Demand and Shortages. American Journal of Operational Research. 2(6), 81-92 (2012).

10. Kao, C., Hsu, W.K.: Lot size-reorder point inventory model with fuzzy demands. Computers and mathematics with applications. 43, 1291-1302 (2002).

11. Mishra, P., Shah, N.H.: Inventory management of time dependent deteriorating items with salvage value. Applied Mathematical Sciences. 2 (16), 793-798 (2008).

12. Moon, I., Giri, B.C., Ko, B.: Economic order quantity models for ameliorating/ deteriorating items under inflation and time discounting. Eur. J. oper. Res. 162, 773-785 (2005).

13. Park, K.S.: Fuzzy set theoretic interpretation of economic order quantity. IIIE Transactions on Systems, Man and Cybernetics. 17, 1082-1084 (1987).

14. Sarker, B.R., Mukherjee, S., Balan, C.V.: An order-level lot size inventory model with inventory-level dependent demand and deterioration. Int. J. Prod. Eco. 48, 227-236

*N.K.Sahoo & **P.K.Tripathy

* P.G. Dept. of Mathematics, Utkal University, Bhubaneswar-751004 narenmaths@yahoo.co.in **P.G. Dept. of Statistics, Utkal University, Bhubaneswar-751004 msccompsc@gmail.com Abstract:- This paper deals with the development of a fuzzy inventory model with trended deterioration and salvage. The deterioration rate, holding cost, unit cost and salvage value are taken as trapezoidal fuzzy numbers. Both Graded Mean Integration and Signed Distance Method are used to defuzzify the total cost function. Mathematical model has been developed for determining the optimal order quantity, optimal cycle time and optimal total inventory cost. Numerical

Hsieh, C.H.: Optimization of fuzzy production inventory models. Information Sciences. 146, 29-40 (2002).

8. Jaggi, C.K., Aggarwal, K.K., Goel, S.K.: Optimal order policy for deteriorating items with inflation induced demand. Int. J. Prod. Eccon. 103, 707-714 (2006).

9. Jaggi, C.K., Pareek, S., Sharma, A., Nidhi.: Fuzzy Inventory Model for Deteriorating Items with Time-varying Demand and Shortages. American Journal of Operational Research. 2(6), 81-92 (2012).

10. Kao, C., Hsu, W.K.: Lot size-reorder point inventory model with fuzzy demands. Computers and mathematics with applications. 43, 1291-1302 (2002).

11. Mishra, P., Shah, N.H.: Inventory management of time dependent deteriorating items with salvage value. Applied Mathematical Sciences. 2 (16), 793-798 (2008).

12. Moon, I., Giri, B.C., Ko, B.: Economic order quantity models for ameliorating/ deteriorating items under inflation and time discounting. Eur. J. oper. Res. 162, 773-785 (2005).

13. Park, K.S.: Fuzzy set theoretic interpretation of economic order quantity. IIIE Transactions on Systems, Man and Cybernetics. 17, 1082-1084 (1987).

14. Sarker, B.R., Mukherjee, S., Balan, C.V.: An order-level lot size inventory model with inventory-level dependent demand and deterioration. Int. J. Prod. Eco. 48, 227-236

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