Issue: 2020/Vol.30/No.3, Pages 97-112
INVENTORY MODEL FOR DETERIORATING ITEMS WITH NEGATIVE EXPONENTIAL DEMAND, PROBABILISTIC DETERIORATION AND FUZZY LEAD TIME UNDER PARTIAL BACK LOGGING
Nabendu Sen
, Sumit Saha
Cite as: N. Sen, S. Saha. Inventory model for deteriorating items with negative exponential demand, probabilistic deterioration and fuzzy lead time under partial back logging. Operations Research and Decisions 2020: 30(3), 97-112. DOI 10.37190/ord200306
Abstract
The effect of lead time plays an important role in inventory management. It is also important to study the optimal strategies when the lead time is not precisely known to the decision-makers. This paper aimed to examine the inventory model for deteriorating items with fuzzy lead time, negative exponential demand, and partially backlogged shortages. This model is unique in its nature due to probabilistic deterioration along with fuzzy lead time. The fuzzy lead time was assumed to be triangular, parabolic, trapezoidal numbers. The graded mean integration representation method was used for the defuzzification purpose. Three different types of probability distributions, namely uniform, triangular and beta were used for rate of deterioration to find optimal time and associated total inventory cost. The developed model was validated numerically, and values of optimal time and total inventory cost are given in a tabular form, corresponding to different probability distributions and fuzzy lead-time. The sensitivity analysis was performed on the variation of key parameters to observe its effect on the developed model.
Keywords: fuzzy lead time, shortages, partially backlogged, exponentially declining demand, probabilistic deterioration
Received: 17 May 2019 Accepted: 23 August 2020