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A Fuzzy EOQ Model with Allowable Shortage under Different Trade Credit Terms |
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PP: 785-805 |
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doi:10.18576/amis/100239
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Author(s) |
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Chandra K. Jaggi,
V. S. S. Yadavalli,
Anuj Sharma,
Sunil Tiwari,
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Abstract |
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| The present study formulates a fuzzy economic order quantity model under conditions of permissible delay in payments by
considering price-dependent demand and higher interest earn rate on fixed sales revenue. This research paper scrutinizes all the possible
cases which may exist inclusive of those that have not been considered by researchers so far. The proposed models allow fully backlog
shortages. The proper mathematical models for various cases are developed to determine the optimal order quantity, the time period
in which inventory of the positive stock is finished in addition to the total cycle length by maximizing the total fuzzy profit function.
Further, the arithmetic operations for fuzzy demand parameters are defined under the function principle and for defuzzification, signed
distance method has been used. Finally, the numerical examples are presented to show the validity of the model followed by the
sensitivity analysis. |
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