Back-Ordered Inventory Model With Inflation in A Cloudy-Fuzzy Environment

Date

2021-07-01

Author

Barman, Haripriya
Pervin, Magfura
Roy, Sankar Kumar
Weber, Gerhard Wilhelm

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

259
views

0
downloads

In this paper, an Economic Production Quantity model for deteriorating items with time-dependent demand and shortages including partially back-ordered is developed under a cloudy-fuzzy environment. At first, we develop a crisp model by considering linearly time-dependent demand with constant deterioration rate, constant inflation rate and shortages under partially back-ordered, then we fuzzify the model to archive a decision under the cloudy-fuzzy (extension of fuzziness) demand rate, inflation rate, deterioration rate and the partially back-ordered rate which are followed by their practical applications. In this model, we assume ambiances where cloudy normalized triangular fuzzy number is used to handle the uncertainty in information which is coming from the data. The main purpose of our study is to defuzzify the total inventory cost by applying Ranking Index method of fuzzy numbers as well as cloudy-fuzzy numbers and minimize the total inventory cost of crisp, fuzzy, and cloudy-fuzzy model. Finally, a comparative analysis among crisp, fuzzy and cloudy-fuzzy total cost is carried out in this paper. Numerical example, sensitivity analysis, and managerial insights are elaborated to justify the usefulness of the new approach. A comparative inquiry of the numerical result with a new existing paper is also carried out. This paper ends with a conclusion along with advantages and limitations of our solution approach, and an outlook towards possible future studies.

URI

https://hdl.handle.net/11511/90021

Journal

JOURNAL OF INDUSTRIAL AND MANAGEMENT OPTIMIZATION

DOI

https://doi.org/10.3934/jimo.2020052

Collections

Graduate School of Applied Mathematics, Article

Suggestions

OpenMETU
Core

Optimal pricing and ordering policy for non-instantaneous deteriorating items under inflation and customer returns Ghoreishi, M.; Mirzazadeh, A.; Weber, Gerhard Wilhelm (Informa UK Limited, 2014-01-01) This paper deals with an economic production quantity inventory model for non-instantaneous deteriorating items under inflationary conditions considering customer returns. We adopt a price-and time-dependent demand function. Also, the customer returns are considered as a function of both price and demand. The effects of time value of money are studied using the Discounted Cash Flow approach. The main objective is to determine the optimal selling price, the optimal replenishment cycles, and the optimal produ...
SUSTAINABLE DESIGN CONSIDERATIONS FOR EMOTIONAL DURABILITY AND PRODUCT LONGEVITY THROUGH PRODUCT CARE ACTIVITIES BY REPAIR ENTHUSIASTS Yazirlıoğlu, Lilyana; Doğan, Çağla; Department of Industrial Design (2021-8-02) Take-make-dispose behaviours as the basis of the linear economy model are challenged by the sustainable modes of consumption that aim to minimise the use of raw materials and waste production. The most prominent among these is the circular economy model, which resembles the production and consumption cycles to a living system, and proposes alternative systems where there is no such thing as waste but only food for another within the system (Ellen MacArthur Foundation, 2015). Therefore, the aim is to protect...
JOINT PRICING AND REPLENISHMENT DECISIONS FOR NON-INSTANTANEOUS DETERIORATING ITEMS WITH PARTIAL BACKLOGGING, INFLATION- AND SELLING PRICE-DEPENDENT DEMAND AND CUSTOMER RETURNS Ghoreishi, Maryam; Mirzazadeh, Abolfazl; Weber, Gerhard Wilhelm; Nakhai-Kamalabadi, Isa (American Institute of Mathematical Sciences (AIMS), 2015-07-01) This paper develops an Economic Order Quantity (EOQ) model for non-instantaneous deteriorating items with selling price- and inflation-induced demand under the effect of inflation and customer returns. The customer returns are assumed as a function of demand and price. Shortages are allowed and partially backlogged. The effects of time value of money are studied using the Discounted Cash Flow approach. The main objective is to determine the optimal selling price, the optimal length of time in which there is...
Life cycle assessment of off-highway trucks and belt conveyors for sustainable mining Erkayaoğlu, Mustafa; Demirel, Nuray; Department of Mining Engineering (2011) In recent years increasing growth rate of all industrial fields generated an emerging energy demand and consequent environmental problems worldwide. Defining environmental profiles of products and systems using environmental tools, such as Life Cycle Assessment (LCA), is a critical issue for sustainable mining. In order to tackle the increasing environmental challenges and air emissions induced by surface coal mining, alternative material handling options are needed to be evaluated. This research study aims...
Cement production by cement-bonded wood particleboard wastes Yilmaz, Mustafa; Tokyay, Mustafa; Yaman, İsmail Özgür (2016-01-01) To improve the sustainability of cement and concrete production, there is an increasing trend towards using industrial wastes throughout their production processes. The aim is to find new resources that can be used in any step of cement and concrete production and to find solutions to many problems related to the disposal of wastes. This article discusses the use of wastes generated from cement-bonded wood particle board (CB) manufacturing in cement production. CB waste, which basically contains wood chips ...

Citation Formats

H. Barman, M. Pervin, S. K. Roy, and G. W. Weber, “Back-Ordered Inventory Model With Inflation in A Cloudy-Fuzzy Environment,” JOURNAL OF INDUSTRIAL AND MANAGEMENT OPTIMIZATION, pp. 1913–1941, 2021, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/90021.