A Fuzzy Inventory System of Inflation Effect and TimeRelated Demand

Abstract

In this research work, a fuzzy inventory model was developed for deteriorating items with time-dependent demand considering the inflation effect. Shortages if any are allowed and partially backlogged with a variable rate dependent on the duration of waiting time up to the arrival of the next lot. The corresponding problem has been formulated as a nonlinearly constrained optimization problem, all the cost parameters are fuzzy valued and solved. Numerical examples have been considered to illustrate the model and the significant features of the results are discussed. Finally, based on these examples, sensitivity analyses have been studied by taking one parameter at a time keeping the other parameters as same.