IJPAM: Volume 87, No. 1 (2013)

FUZZY APPROACH ON OPTIMAL ORDERING STRATEGY IN
INVENTORY AND PRICING MODEL WITH
DETERIORATING ITEMS

A. Nagoor Gani1, G. Sabarinathan2
1,2P.G. & Research Department of Mathematics
Jamal Mohamed College (Autonomous)
Tiruchirappalli, 620020, Tamilnadu, INDIA


Abstract. In this paper, we developed fuzzy optimal ordering strategy in inventory model with deteriorating items. The retailer's optimal quantity was determined with deterioration at a constant rate. The objective of this paper is to maximize the retailer's total profit per unit time. Purchase and selling cost, ordering and fixed cost, inventory cost in warehouse and showroom are taken as fuzzy numbers. A numerical example is given to validate the model. Numerical example solved by using MATLAB software. Graded mean integration representation method is used to defuzzify the results.

Received: June 14, 2013

AMS Subject Classification: 03E72, 90B05

Key Words and Phrases: inventory cost, deterioration, triangular fuzzy number, defuzzification

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DOI: 10.12732/ijpam.v87i1.10 How to cite this paper?
Source:
International Journal of Pure and Applied Mathematics
ISSN printed version: 1311-8080
ISSN on-line version: 1314-3395
Year: 2013
Volume: 87
Issue: 1