An economic production quantity inventory model involving fuzzy demand rate and fuzzy deterioration rate

Authors:
Sujit Kumar De;P. K. Kundu;A. Goswami
Affiliations:
Department of Applied Mathematics with Oceanology and Computer Programming, Vidyasagar University, Midnapore - 721 102, West Bengal, India;-;Department of Mathematics, Indian Institute of Technology, Kharagpur - 721 302, India
Venue:
The Korean Journal of Computational & Applied Mathematics
Year:
2003

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Abstract

Generally, in deriving the solution of economic production quantity (EPQ) inventory model, we consider the demand rate and deterioration rate as constant quantity. But in case of real life problems, the demand rate and deterioration rate are not actually constant but slightly disturbed from their original crisp value. The motivation of this paper is to consider a more realistic EPQ inventory model with finite production rate, fuzzy demand rate and fuzzy deterioration rate. The effect of the loss in production quantity due to faulty/old machine have also been taken into consideration. The methodology to obtain the optimum value of the fuzzy total cost is derived and a numerical example is used to illustrate the computation procedure. A sensitivity analysis is also carried out to get the sensitiveness of the tolarance of different input parameters.