What is it about?
In the present paper, an inventory model without shortages has been considered in a fuzzy environment. Our goal is to determine the optimal total cost and the optimal order quantity for the propose inventory model. The Trapezoidal fuzzy numbers have been introduced in order to achieve this goal. The computation of economic order quantity (EOQ) is carried out through defuzzification process by using signed distance method. The signed distance method is more applicable than the other methods of defuzzification. To illustrate the results of the proposed model, we have given two model examples and presented the computational results. Sensitivity for this model is also studied, which shows a linear relation between demand, EOQ, and total cost. The advantage of the proposed approach is that it is simple, gives a better result in relatively less computational work.
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Why is it important?
For an EOQ model if carrying cost and set up cost are expressed as fuzzy trapezoidal numbers, then the results obtained are much better & economic than the case of triangular fuzzy numbers
Perspectives
For me, to work on this paper was a great pleasure as it has co-authors with whom I have had long standing collaborations. This paper lead to ultimately to a greater involvement in this research.
Dr. PAVAN KUMAR
VIT Bhopal University
Read the Original
This page is a summary of: Fuzzy Inventory Model without Shortage Using Trapezoidal Fuzzy Number with Sensitivity Analysis, IOSR Journal of Mathematics, January 2012, IOSR Journals,
DOI: 10.9790/5728-0433237.
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