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Fuzzy Inventory Model under Selling Price Dependent Demand and Variable Deterioration with Fully Backlogged Shortages
Department of Statistics, University of Mumbai, Mumbai, India
Department of Statistics, University of Mumbai, Mumbai, India
- 1 Department of Statistics, University of Mumbai, Mumbai, India
- 2 Department of Statistics, University of Mumbai, Mumbai, India
American Journal of Operations Research·Volume 14 (2024)·Pages 87–103·Published 29 March 2024·DOI10.4236/ajor.2024.142005
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Abstract
The objective is to develop a model considering demand dependent on selling price and deterioration occurs after a certain period of time, which follows two-parameter Weibull distribution. Shortages are allowed and fully backlogged. Fuzzy optimal solution is obtained by considering hexagonal fuzzy numbers and for defuzzification Graded Mean Integration Representation Method. A numerical example is provided for the illustration of crisp and fuzzy, both models. To observe the effect of changes in parameters, sensitivity analysis is carried out.
KeywordsDeteriorationSelling Price Dependent DemandFully BackloggedHexagonal Fuzzy NumbersGraded Mean Integration Representation Method
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