A FUZZY INVENTORY MODEL WITH EXPONENTIALLY PRICE AND TIME-DEPENDENT DEMAND UNDER EXPONENTIALLY BACKLOGGED SITUATION

Abstract

In this study, we have proposed a fuzzy inventory model for deteriorating items with exponential price and time-dependent demand under inflation. Shortages are allowed partially with the rate of exponential duration of waiting time up to the arrival of the next lot. The inventory parameters are considered as fuzzy valued. The corresponding problem has been formulated as a nonlinearly constrained optimization problem. A numerical example has been considered to illustrate the model and the significant features of the results are discussed. Finally, based on these examples, sensitivity analyses have been studied by taking one parameter at a time keeping the other parameters as same.