EOQ models for deteriorating items under fuzzy environment

Abstract

The first chapter is introduction and literature survey of the related work where the background literature has been described briefly in the light of which our investigation have been presented in the subsequent chapters. The motivation and scope of the thesis have also been mentioned. The objective of the study is to develop an EOQ inventory model for non-instantaneous deteriorating products, in fuzzy approach. Due to lockdown and shutdown, during this pandemic COVID 19, customers have faced financial crises which lead to the fluctuation of market demand followed by other system parameters of like vegetables and bakery items. Since classical EOQ model has many unrealistic parameters, some of the inventory management systems are fit for such situations but most of the business firms are dealing with parameters which are highly uncertain in nature. In the present study, we assume demand, deterioration, holding cost, backlog rate are constant in Crisp model, on the other hand in fuzzy model they are considered as triangular fuzzy numbers. Graded Mean Integration Representation Method GMIR), Signed Distance Method (SDM) and Centroid Method (CM) are used to defuzzified the total average cost function. The results obtained by these methods are compared with the help of numerical examples and sensitivity analysis is also carried out to explore the effect of change of different system parameters and validation of the proposed model. newline