Affiliations: [a] Department of Mathematics, Silda Chandra Sekhar College, Silda, Jhargram, West Bengal, India
| [b] Department of Mathematics, Heritage Institute of Technology, Anandapur, Kolkata, West Bengal, India
| [c] Department of Mathematics, Indian Institute of Engineering Science and Technology, Shibpur, Howrah, West Bengal, India
Correspondence:
[*]
Corresponding author. T. Garai, Department of Mathematics, Silda Chandra Sekhar College, Silda, Jhargram, West Bengal, India. Tel.: +91 9153510653; E-mail: garaitotan@gmail.com.
Abstract: In this paper, we have considered an EOQ inventory model with a price-dependent demand and time varying holding cost in fuzzy environments by employing trapezoidal fuzzy numbers. A fully-fuzzy inventory model is developed where the input parameters and decision variables are fuzzified. For this fuzzy model, an expected value method of defuzzification is employed to find the estimate of the profit function in the fuzzy sense. In addition, a rigorous methodology is constructed to examined for the optimal solution of fully-fuzzy inventory model. The optimal policy for the developed model is determined using the proposed algorithm after defuzzification of the profit function. Finally, a numerical example is provided in order to determine the sensitiveness in the decision variables with respect to fuzziness in the components.
