Study on fuzzy inventory model for deteriorating items with recurring seasonal demand pattern

Sanju Kumar, Ravish Kumar Yadav and Aashish Singh

International Journal of Mathematics in Operational Research, 2023, vol. 24, issue 3, 408-424

Abstract: In this study, a fuzzy inventory model has been developed for deteriorating items with recurring seasonal demand pattern and ramp type growth in demand season-by-season which varies with time. It is well known, there is a lot of complexity in the market and hence cost components cannot be calculated precisely. Therefore, to handle this impreciseness, a triangular fuzzy number is assigned for different cost components and defuzzified by using signed distance method. We optimised the total cost function which depends on the time length of the planning period. Proposed model has been illustrated by numerical examples. Sensitivity analysis has also been carried out on variation of different parameters.

Keywords: fuzzy inventory; recurring seasonal demand pattern; deterioration; triangular fuzzy number; signed distance method. (search for similar items in EconPapers)
Date: 2023
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