Analysis of fuzzy inventory model for Gompertz deteriorating items with linear demand and shortages

K. Senbagam and M. Kokilamani

International Journal of Mathematics in Operational Research, 2021, vol. 19, issue 1, 104-128

Abstract: This article establishes a fuzzy inventory model for Gompertz deteriorating items with linear demand and constant holding cost. Stock-out is permitted and completely back-ordered. The goal is to find the optimum cycle times to maximise the overall profit by using a graded mean representation method. In this study, we first developed an arithmetical model to find the most favourable solution. The solution process is also developed in order to maximise the total profit. The total profit is calculated on the basis of various principles. The deterioration cost, shortage cost, holding cost and demand rate are assumed as a heptagonal and octagonal fuzzy numbers. Some numerical examples are provided to support the solution procedure. Finally, a sensitivity analysis of some parameters and the conclusion of the proposed model will be discussed.

Keywords: inventory system; Gompertz deterioration; linear function; heptagonal fuzzy numbers; octagonal fuzzy numbers; graded mean representation method. (search for similar items in EconPapers)
Date: 2021
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