Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages
In this paper, a fuzzy inventory model with a Weibull deterioration rate, a quadratic demand rate, and a variable holding cost under permissible shortages has been developed. The deterioration rate is expressed by a two-parameter Weibull distribution. During a shortage, some buyers wait for...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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University of Belgrade
2022-01-01
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| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2022/0354-02432204453P.pdf |
| _version_ | 1811155156141604864 |
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| author | Poswal Preety Chauhan Anand Rajoria Yogendra Kumar Boadh Rahul Goel Abhinav |
| author_facet | Poswal Preety Chauhan Anand Rajoria Yogendra Kumar Boadh Rahul Goel Abhinav |
| author_sort | Poswal Preety |
| collection | DOAJ |
| description | In this paper, a fuzzy inventory model with a Weibull deterioration rate, a
quadratic demand rate, and a variable holding cost under permissible
shortages has been developed. The deterioration rate is expressed by a
two-parameter Weibull distribution. During a shortage, some buyers wait for
the actual product, while others do not. This shortfall is considered
partially backlogged in this model. Some buyers wait for the actual product
during such shortages, but many do not. Therefore, partially backlogged
shortages are taken into account in this approach. In a traditional
inventory model, all parameters such as purchasing cost, shortage cost,
holding cost, etc. are predetermined. However, there will be some
variations. As a result, fuzzy factors are more accurate to deal with the
real world’s problems. This research attempts to cut down the cost in a
fuzzy environment by using quadratic demand, shortage, Weibull deterioration
rate, and variable holding cost. Costs such as ordering, shortage, and
deterioration are addressed as pentagonal fuzzy numbers that are defuzzified
using a graded mean representation approach. Finally, sensitivity analysis
was carried out to investigate the influence of cost parameters on total
inventory cost. A numerical example is used to validate the proposed model
in a real-world system. |
| first_indexed | 2024-04-10T04:29:24Z |
| format | Article |
| id | doaj.art-5293c48d29bd4f5f8904eaaacb0d11c6 |
| institution | Directory Open Access Journal |
| issn | 0354-0243 1820-743X |
| language | English |
| last_indexed | 2024-04-10T04:29:24Z |
| publishDate | 2022-01-01 |
| publisher | University of Belgrade |
| record_format | Article |
| series | Yugoslav Journal of Operations Research |
| spelling | doaj.art-5293c48d29bd4f5f8904eaaacb0d11c62023-03-10T08:08:02ZengUniversity of BelgradeYugoslav Journal of Operations Research0354-02431820-743X2022-01-0132445347010.2298/YJOR220115021P0354-02432204453PFuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortagesPoswal Preety0Chauhan Anand1Rajoria Yogendra Kumar2Boadh Rahul3Goel Abhinav4Department of Mathematics, K.R. Mangalam University, Gurgaon, Haryana, IndiaDepartment of Mathematics, Graphic Era Deemed University, Dehradun, U.K, IndiaDepartment of Mathematics, School of Basic and Applied Science, K.R. Mangalam University, Gurgaon, Haryana, IndiaDepartment of Mathematics, K.R. Mangalam University, Gurgaon, Haryana, IndiaDepartment of Mathematics, Graphic Era Deemed University, Dehradun, U.K, IndiaIn this paper, a fuzzy inventory model with a Weibull deterioration rate, a quadratic demand rate, and a variable holding cost under permissible shortages has been developed. The deterioration rate is expressed by a two-parameter Weibull distribution. During a shortage, some buyers wait for the actual product, while others do not. This shortfall is considered partially backlogged in this model. Some buyers wait for the actual product during such shortages, but many do not. Therefore, partially backlogged shortages are taken into account in this approach. In a traditional inventory model, all parameters such as purchasing cost, shortage cost, holding cost, etc. are predetermined. However, there will be some variations. As a result, fuzzy factors are more accurate to deal with the real world’s problems. This research attempts to cut down the cost in a fuzzy environment by using quadratic demand, shortage, Weibull deterioration rate, and variable holding cost. Costs such as ordering, shortage, and deterioration are addressed as pentagonal fuzzy numbers that are defuzzified using a graded mean representation approach. Finally, sensitivity analysis was carried out to investigate the influence of cost parameters on total inventory cost. A numerical example is used to validate the proposed model in a real-world system.http://www.doiserbia.nb.rs/img/doi/0354-0243/2022/0354-02432204453P.pdfeoq modeldeteriorationweibull deterioration ratevariable dependent demandshortagespentagonal numbergraded mean integration method |
| spellingShingle | Poswal Preety Chauhan Anand Rajoria Yogendra Kumar Boadh Rahul Goel Abhinav Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages Yugoslav Journal of Operations Research eoq model deterioration weibull deterioration rate variable dependent demand shortages pentagonal number graded mean integration method |
| title | Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| title_full | Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| title_fullStr | Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| title_full_unstemmed | Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| title_short | Fuzzy optimization model of two parameter Weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| title_sort | fuzzy optimization model of two parameter weibull deteriorating rate with quadratic demand and variable holding cost under allowable shortages |
| topic | eoq model deterioration weibull deterioration rate variable dependent demand shortages pentagonal number graded mean integration method |
| url | http://www.doiserbia.nb.rs/img/doi/0354-0243/2022/0354-02432204453P.pdf |
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