TITLE:
Fuzzy Inventory Model under Selling Price Dependent Demand and Variable Deterioration with Fully Backlogged Shortages
AUTHORS:
Tanzim S. Shaikh, Santosh P. Gite
KEYWORDS:
Deterioration, Selling Price Dependent Demand, Fully Backlogged, Hexagonal Fuzzy Numbers, Graded Mean Integration Representation Method
JOURNAL NAME:
American Journal of Operations Research,
Vol.14 No.2,
March
29,
2024
ABSTRACT: The objective is to develop a model considering demand dependent on selling price and deterioration occurs after a certain period of time, which follows two-parameter Weibull distribution. Shortages are allowed and fully backlogged. Fuzzy optimal solution is obtained by considering hexagonal fuzzy numbers and for defuzzification Graded Mean Integration Representation Method. A numerical example is provided for the illustration of crisp and fuzzy, both models. To observe the effect of changes in parameters, sensitivity analysis is carried out.