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Bulletin of Pure & Applied Sciences- Mathematics and Statistics
Year : 2017, Volume : 36e, Issue : 1
First page : ( 16) Last page : ( 30)
Print ISSN : 0970-6577. Online ISSN : 2320-3226.
Article DOI : 10.5958/2320-3226.2017.00002.9

Inventory Optimization by Fuzzy Logic For a Production of Single Item without Shortages

Indrajitsingha S. K.1,*, Samanta P.N.2, Misra U.K.3

1DST INSPIRE fellow, P.G. Department of Mathematics, Berhampur University, Berhampur, Bhanja, Bihar-760 007, Odisha, India, E-mail: ski.rs.math@buodisha.edu.in

2P.G. Department of Mathematics, Berhampur University, Berhampur, Bhanja, Bihar-760007, Odisha, India, E-mail: pns.math@buodisha.edu.in

3Department of Mathematics, NIST, Golanthara, Palur Hills, Pin-761 008, Berhampur, Odisha, India, E-mail: umakanta_misra@yahoo.com

*Corresponding Author: S. K. Indrajitsingha, DST INSPIRE fellow, P.G. Department of Mathematics, Berhampur University, Berhampur, Bhanja, Bihar-760 007, Odisha, India, E-mail: ski.rs.math@buodisha.edu.in

AMS Classification No: 03E72

Online published on 19 August, 2017.

Abstract

Here a single item inventory model for deteriorating items without shortages under fuzzy sense is formulated and solved. Fuzziness is introduced by allowing cost components, demand rate, deterioration rate and the production rate. In fuzzy environment, demand, holding cost, set-up cost, deterioration cost, production rate, deterioration rate etc. are assumed to be pentagonal fuzzy numbers. The purpose of this model is to minimize the total cost function in fuzzy scenario. Signed distance method is employed to defuzzify the total cost function per unit time in fuzzy approach. We provide a numerical example to illustrate the theoretical result obtain by the above defuzzification method. Sensitivity analysis of parameters is also carried to detect the effect of change of their values.

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Keywords

Fuzzy Inventory, Pentagonal Fuzzy Number, Signed Distance Method, Deterioration, Defuzzification.

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