Abstract:In this paper, an attempt to find a more generalized version of the classical EOQ model is made under the setup of fuzzy fractional calculus. Intuitively, the notions of fuzziness and fractional derivative represent the sense of uncertainty and memory, respectively. Thus, manipulating the classical EOQ model in terms of the fuzzy fractional differential equation (FFDE), the impacts of the uncertainty and system memory on the lot-sizing model are manifested here. The model describes the FFDE under Caputo gH der… Show more
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