A Channel Financing Policy for an EOQ Model of Fast-Moving Consumer Goods with Fuzzy Approach

Manisha Pant (), Neelanjana Rajput (), Seema Sharma () and Anand Chauhan ()
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Manisha Pant: Gurukul Kangri (Deemed to be University)
Neelanjana Rajput: Govt. Degree College
Seema Sharma: Gurukul Kangri (Deemed to be University)
Anand Chauhan: Graphic Era (Deemed to be University)

SN Operations Research Forum, 2024, vol. 5, issue 1, 1-27

Abstract: Abstract In the present scenario, coronavirus became a huge issue all over the world. During the crucial period of COVID-19, the market demand for several commodities increased by 400%. The fast-moving consumer goods (FMCG) firms (that make energy drinks, ready-to-eat meals, and hand sanitizer) increased production significantly to meet the demand. So, the retailer is unable to pay on time due to the financial crisis. So, an EOQ model developed here considering the channel financing strategies, which assist vendors in promoting their businesses despite a lack of financial resources. The rate of demand is fuzzy for FMCG items and is extremely sensitive and unpredictable during this crucial phase. Consumption is increasing at an exponential rate, and there is a resource shortage in stock. The optimal solution has been provided using the signed distance method with an octagonal fuzzy number. To demonstrate the model’s robustness, an appropriate numerical illustration which shows the total cost is reduced in a fuzzy environment and we get an optimized result for the described EOQ model. A sensitivity analysis of the overall cost has been discussed.

Keywords: Fuzzy inventory model; Exponential demand; Channel financing; Discount rate; Octagonal fuzzy number; Signed distance method (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s43069-023-00282-9

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