A Fuzzy Multi Objective Inventory Model with Production Cost and Set-up-Cost Dependent on Population

Satya Kumar Das ()
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Satya Kumar Das: Govt. General Degree College at Gopiballavpur-II

Annals of Data Science, 2022, vol. 9, issue 3, No 12, 627-643

Abstract: Abstract In this paper, I have developed a multi item production inventory model for the non-deteriorating items with constant demand rate under the limitation on set up cost. The production price and set-up price are the most vital problem within the inventory system of the marketplace in international. Here the production cost is dependent on the demand as well as populations. Set up cost is dependent on the average inventory level. Holding cost is the most challenging issue in the business world. In order to reduce the holding cost, the holding cost function has been considered as on the number of peoples. Due to uncertainty all the cost parameters are taken as the generalized triangular fuzzy number. Multi objective fuzzy inventory model has been solved by various techniques like Fuzzy programming technique with hyperbolic membership function, Fuzzy non-linear programming technique and Fuzzy additive goal programming technique. Numerical example is given to illustrate the inventory model. Sensitivity analysis and the graphical representations have been shown to illustrate the reality of the inventory model.

Keywords: Inventory; Multi-item; Generalized triangular fuzzy number; Fuzzy technique (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s40745-022-00405-9

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