Fuzzy Inventory Model of Deteriorating Items under Power Dependent Demand and Inventory Level Dependent Holding Cost Function

Abstract

The present paper deals with the development of a fuzzy inventory model of deteriorating itemsunder power demand rate and inventory level dependent holding cost function. The deteriorationrate, demand rate, holding cost and unit cost are considered as trapezoidal fuzzy numbers. Both the crisp model and fuzzy model are developed in this paper. The graded mean integration method(GM) and signed distance method(SD) are used to defuzzify the total cost of the present model. Both the models are illustrated by suitable numerical examples and a sensitivity analysis for the optimal solution towards changes in the system parameters are discussed. Lastly a graphical presentation is furnished to compare the total costs under the above two mentioned methods in the fuzzy model.