Please use this identifier to cite or link to this item: http://hdl.handle.net/1/150
Title: An Optimum Inventory Policy for Exponentially Deteriorating Items, Considering Multi Variate Consumption Rate with Partial Backlogging
Authors: Pandey, Himanshu
Pandey, Ashutosh
Keywords: Inventory model
triangular fuzzy numbers
signed distance
stock and price dependent Demand
exponential distribution
Issue Date: 3-Mar-2014
Publisher: Chitkara University
Abstract: Customer purchasing deeds may be affected by factors such as selling price and inventory level instead of demand which is considered either constant or function of single variable which is not feasible. Consequently in the present study we have considered demand rate as a function of stock-level and selling price both. In present study, in order to develop this model it has been assumed that items are exponentially decaying and shortages are partially backlogged and most realistic backlogging rate is considered. In this research, we proposed a partial backlogging inventory model for exponentially decaying items considering stock and selling price dependent demand rate in fuzzy environment. In developing the model demand rate, ordering cost, purchasing cost, holding cost, backordering cost and opportunity cost are considered as triangular fuzzy numbers. Graded mean integration representation method is used for defuzzification. A numerical example is provided to illustrate the problem. Sensitivity analysis of the optimal solution with respect to the changes in the value of system parameters is also discussed.
URI: http://dspace.chitkara.edu.in/xmlui/handle/1/150
http://hdl.handle.net/1/150
ISSN: Print : 2278-9561
Online : 2278-957X
Appears in Collections:MJIS Volume 2 Number 2 (March - 2014)

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