Fuzzy inventory model for deteriorating items with permissible delay in payment

Fuzzy inventory model for deteriorating items with permissible delay in payment

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Article ID: iaor20081099
Country: Netherlands
Volume: 182
Issue: 1
Start Page Number: 711
End Page Number: 726
Publication Date: Nov 2006
Journal: Applied Mathematics and Computation
Authors: ,
Keywords: fuzzy sets
Abstract:

In this paper, we extend the model of Jamal et al. by fuzzifying the carrying cost rate, interest paid rate and interest earned rate simultaneously, based on the interval-valued fuzzy numbers and triangular fuzzy number to fit the real world. We then prove that the estimate of total variable cost per unit time in the fuzzy sense is a strictly pseudo-convex function. As a result, there exists a unique optimal solution to our proposed model. Moreover, we apply the Jamal et al. example to show the results and to compare with the model of Jamal et al.

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