A Study of an EOQ Model Under Triangular Cloudy Fuzzy Neutrosophic Demand Rate

Sujit Kumar De and Sanchita Mahato
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Sujit Kumar De: Midnapore College (Autonomous), Department of Mathematics
Sanchita Mahato: Midnapore College (Autonomous), Department of Mathematics

Chapter Chapter 29 in Fuzzy Optimization, Decision-making and Operations Research, 2023, pp 659-677 from Springer

Abstract: Abstract This chapter is all about a very new approach of developing a general EOQ Model where demand rate is considered as a Triangular Cloudy Fuzzy Neutrosophic (TCFN) set. In this chapter, we first define the various membership functions/grades of the components of a TCFN set and fuzzify the model. Then we find the ultimate score value of the neutrosophic fuzzy elements when the components are dependent on each other associated with standard and nonstandard fuzzy set. Then we defuzzify the model to get the equivalent classical problem of the neutrosophic model and we find the solution using nonlinear optimization procedure. Then we show a clear comparison of results of different models like Crisp, general fuzzy, and TCFN through a table for proper understanding. At the end of the whole study, we came to the conclusion that considering TCFN environment for solving any inventory problem is very appropriate and realistic for a decision maker in progression of a business. Also, for proper justification of new fuzzy approach, sensitivity analysis and graphical illustrations are made.

Keywords: EOQ model; Standard and nonstandard neutrosophic set; Ranking rule; Optimization (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-35668-1_29

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DOI: 10.1007/978-3-031-35668-1_29

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