Analysis of fuzzy inventory model for Gompertz deteriorating items with linear demand and shortages

DOI10.1504/IJMOR.2021.115446MaRDI QIDQ2664705zbMATH OpenOpenAlexFDO

Authors K. Senbagam, M. Kokilamani

Publication date 17 November 2021

Published in International Journal of Mathematics in Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1504/ijmor.2021.115446

zbMATH Keywords

Gompertz deteriorationgraded mean representation methodheptagonal fuzzy numbersinventory systemlinear functionoctagonal fuzzy numbers

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05) Fuzzy and other nonstochastic uncertainty mathematical programming (90C70)

Review text

Summary: This article establishes a fuzzy inventory model for Gompertz deteriorating items with linear demand and constant holding cost. Stock-out is permitted and completely back-ordered. The goal is to find the optimum cycle times to maximise the overall profit by using a graded mean representation method. In this study, we first developed an arithmetical model to find the most favourable solution. The solution process is also developed in order to maximise the total profit. The total profit is calculated on the basis of various principles. The deterioration cost, shortage cost, holding cost and demand rate are assumed as a heptagonal and octagonal fuzzy numbers. Some numerical examples are provided to support the solution procedure. Finally, a sensitivity analysis of some parameters and the conclusion of the proposed model will be discussed.

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