• FUZZY EOQ MODEL WITH SHORTAGES FOR PRODUCTS WITH CONTROLLABLE DETERIORATION RATE AND TIME DEPENDENT DEMAND AND INVENTORY HOLDING COST

R. PALANI*, M. MARAGATHAM

Abstract


In this paper, we have developed a deterministic inventory model for deteriorating items in which demand rate and holding cost are quadratic and linear function of time. During deterioration period, deterioration rate can be controlled using preservation technology (PT). The ordering cost, deterioration cost, shortage cost and purchase cost are assumed as triangular fuzzy number. The purpose of our study is to find an optimal replenishment cycle and order quantity so that the total inventory cost per unit time is minimum. In the model considered here, deterioration rate is constant, backlogging rate is variable and depends on the length of the next replenishment. Shortages are allowed and   backlogged. An analytic solution which optimizes the total cost is derived. The derived model is illustrated with a numerical example.


Keywords


Inventory, deteriorating items, triangular fuzzy number, preservation technology, exponential distribution, quadratic demand, shortages, backlogged, time varying holding cost.

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