Intuitionistic fuzzy inventory model with quadratic demand rate, time-dependent holding cost and shortages

Chaudhary, Priti; Kumar, Tanuj

doi:10.1088/1742-6596/2223/1/012003

Cited by 2 publications

(1 citation statement)

References 11 publications

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“…The backlog of undersupply is regarded as a function of waiting time. Chaudhary & Kumar [26] studied a model under Intuitionistic fuzzy set theory to reduce the uncertainty with constant deterioration rate, and the demand is considered to be quadratic with shortage. Choudhury et al [27] investigated adverse effects of environmental contamination brought on by production under fuzzy approach.…”

Section: Introductionmentioning

confidence: 99%

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

Shaikh¹,

Gite²

2022

AJOR

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The main purpose of this paper is to develop an inventory model under fuzzy approach by considering the effect of inflation and time value of money, to determine the optimal time period for inventory cycle and minimum total average costs. The model is integrated production inventory model developed where; the Demand has a direct linear impact on production rate. The model can be divided into four stages. In the first two stages with original production rate and subsequent change in production rate, inventory level rises. Third stage is time after the accumulation of inventory and before the deterioration starts, where demand which selling price dependent is depreciating the inventory level, while in the fourth stage deterioration occurs, which is considered to follow two parameter Weibull distribution. The back-order is not considered. Hexagonal fuzzy numbers are used to derive optimum solution and defuzzification by graded mean integration representation method. A numerical example is given to demonstrate the applicability of the purposed model and sensitivity analysis is carried out to reveal the impact of change in parameter values.

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Section: Introductionmentioning

confidence: 99%

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

Shaikh¹,

Gite²

2022

AJOR

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An Inventory Model for Deteriorating Items in Fuzzy Environment for Joint Pricing and Inventory Control With Partial Backlogging and Time and Price Dependent Demand

Yadav,

Sanju Kumar

2024

ShodhKosh J. Vis. Per. Arts

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This study proposes an advanced inventory model that addresses the challenges associated with deteriorating items in a fuzzy environment. The model integrates joint pricing and inventory control while considering partial backlogging and time- and price-dependent demand. The deteriorating items are characterized by their decreasing value over time, and the fuzzy environment accounts for the inherent uncertainty in the real business world. The model recognizes the interdependence of pricing and inventory decisions, acknowledging that pricing strategies can influence inventory levels and vice versa. The model incorporates a partial backlog to accommodate customers who are prepared to wait for out-of-stock items, thereby minimizing lost sales and enhancing customer satisfaction. The model's application has the potential to enhance operational efficiency, improve customer satisfaction, and maximize profitability for businesses operating in diverse industries. A trapezoidal fuzzy number is assigned to the cost parameter and defuzzyfy by applying the graded mean representation method. A numerical example has 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 and keeping the other parameters the same.

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Intuitionistic fuzzy inventory model with quadratic demand rate, time-dependent holding cost and shortages

Cited by 2 publications

References 11 publications

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

An Inventory Model for Deteriorating Items in Fuzzy Environment for Joint Pricing and Inventory Control With Partial Backlogging and Time and Price Dependent Demand

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