A FEPQ model of sustainable items with time and stock dependent demand under trade credit policy

Bijoy Krishna Debnath, Pinki Majumder and Uttam Kumar Bera

International Journal of Operational Research, 2021, vol. 41, issue 1, 27-52

Abstract: Nowadays sustainable fuzzy economic production quantity (s-FEPQ) models gets more highlighted over classical fuzzy economic production quantity (EPQ) models. In this paper, we developed a fuzzy inventory model of sustainable items under time dependent quadratic rate of fuzzy demand and exponential holding cost where shortages are allowed and are fully backlogged considering obsolescence cost and carbon emission cost. Also the developed model is compared with stock dependent fuzzy demand. The proposed fuzzy inventory model is solved via generalised Hukuhara derivative approach. Two different cases are considered by using generalised Hukuhara: differentiability and generalised Hukuhara. For the first time, in this sustainable fuzzy EPQ model, an alternative approach of payment is proposed. After that, the proposed model has been solved by using multi-objective genetic algorithm. The proposed model and technique are lastly illustrated by providing numerical examples. The results from the two methods are compared and some sensitivity analyses both in tabular and graphical forms are presented and discussed.

Keywords: sustainable fuzzy EPQ model; fully backlogged shortages; carbon emission; trade credit; alternative approach of payment; generalised Hukuhara derivative approach. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:41:y:2021:i:1:p:27-52

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