Solving an EOQ model for stock, selling price and customer's income dependent demand under dense lock fuzzy environment

Suman Maity, Sujit Kumar De, Madhumangal Pal and Sankar Prasad Mondal

International Journal of Mathematics in Operational Research, 2026, vol. 34, issue 1, 1-23

Abstract: In this paper, we have developed an economic order quantity (EOQ) model for degrading items in which two decision-makers collaborate to make decision, one of them acting as the industrialist (developer) and the other as the accountable manager. Although, customers' income might create a vital impact on the demand rate of the products. But none of the researchers took it into account for their model. In this study, the demand rate is considered as a function of selling price, stock, and customers' income and later it has been fuzzified. The problem is solved by using dense lock fuzzy environment. The notion of a dense fuzzy set, which depends on number of turnovers made at industrial process. Additionally, we have covered the basic idea of dense lock fuzzy sets along with the relevant membership functions and defuzzification techniques via solution algorithm. Numerical outputs reveals that the joint decision-makers provide the objective function finer optimum. To support the new approach, a thoughtful analysis, a graphical representation, and a conclusion are provided.

Keywords: EOQ model; deteriorating items; dense lock fuzzy set; defuzzification; optimisation. (search for similar items in EconPapers)
Date: 2026
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