Fuzzy order quantity inventory model with fuzzy shortage quantity and fuzzy promotional index

Sujit Kumar De and Shib Sankar Sana

Economic Modelling, 2013, vol. 31, issue C, 351-358

Abstract: The article deals with a backorder EOQ (Economic Order Quantity) model with promotional index for fuzzy decision variables. Here, a profit function is developed where the function itself is the function of m-th power of promotional index (PI) and the order quantity, shortage quantity and the PI are the decision variables. The demand rate is operationally related to PI variables and the model has been split into two types for the multiplication and addition operation. First the crisp profit function is optimized, letting it free from fuzzy decision variable. Yager (1981) ranking index method is utilized here to have a best inventory policy for the fuzzy model. Finally, a graphical presentation of numerical illustrations and sensitivity analysis are done to justify the general model.

Keywords: Fuzzy inventory; Fuzzy shortages; Fuzzy promotional index; α-cut; Optimization (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:31:y:2013:i:c:p:351-358

DOI: 10.1016/j.econmod.2012.11.046

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