Indian Journal of Science and Technology
Year: 2016, Volume: 9, Issue: 23, Pages: 1-5
N . Nalini1* and E. Chandrasekaran2
Background/Objective: To develop fuzzy set theory and the fuzziness in the inventory problem, the purpose is to find the optimal order quantity corresponds to the total cost and the associated cost also fuzzy. Methods/Statistical Analysis: This approach is to find the quantity which has the minimum cost with maximum profit. When the profit gained from selling one unit of the item without deterioration and other shortage cost must be avoided. Findings: Mathematical model has been developed in two steps. (1) The Fuzzy economic order quantity and with the fuzzy total cost, (2) The Fuzzy revenue and the related with fuzzy net profit, (3)Fuzzy economic order quantity and the total cost values with seasonal/ time dependent revenue corresponding to the profits. Applications/Improvements: Our aim is to find total cost and profit with fuzzy sense. Numerical examples are given and sensitivity analysis is carried out to conclude the result.
Keywords: Economic Order Quantity, Fuzzy Profit, Mid-Season and Off Seasons, On Season, Revenue,Total Cost, Trapezoidal Fuzzy Numbers
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