Inventory model with preservation technology and exponential holding cost in fuzzy scenario
Inventories are ubiquitous in the business sector. Since inventory is most frequently incurring expense, stock control is critical for an organization and it must be scrimping and saving in contemplation of function the merchandising fruitfully. In this paper, an inventory model for a deteriorating...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Accademia Piceno Aprutina dei Velati
2023-12-01
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| Series: | Ratio Mathematica |
| Subjects: | |
| Online Access: | http://eiris.it/ojs/index.php/ratiomathematica/article/view/951 |
| _version_ | 1797371576071487488 |
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| author | Hemalatha Shunmugam Annadurai Karuppuchamy |
| author_facet | Hemalatha Shunmugam Annadurai Karuppuchamy |
| author_sort | Hemalatha Shunmugam |
| collection | DOAJ |
| description | Inventories are ubiquitous in the business sector. Since inventory is most frequently incurring expense, stock control is critical for an organization and it must be scrimping and saving in contemplation of function the merchandising fruitfully. In this paper, an inventory model for a deteriorating item under exponential holding cost with collaborative preservation technology investment under carbon policy is considered. Also, this study is developed in a fuzzy scenario by employing triangular fuzzy numbers. Signed distance method is utilized to enhance decision making and optimization. Further the convexity of the total cost function for both the crisp and the fuzzy case is established. The objective is to determine the optimal investment in preservation technology and the optimal cycle length so as to minimize the total cost. Moreover, some managerial results are obtained by using sensitivity analysis and graphical representation is also carried out. The applications of the proposed model is used in the fields of constructing machinery or heavy duty construction equipment, specific chemicals and processed food. |
| first_indexed | 2024-03-08T18:21:08Z |
| format | Article |
| id | doaj.art-acac027ffd164f4f90cf7bb779dcc719 |
| institution | Directory Open Access Journal |
| issn | 1592-7415 2282-8214 |
| language | English |
| last_indexed | 2024-03-08T18:21:08Z |
| publishDate | 2023-12-01 |
| publisher | Accademia Piceno Aprutina dei Velati |
| record_format | Article |
| series | Ratio Mathematica |
| spelling | doaj.art-acac027ffd164f4f90cf7bb779dcc7192023-12-30T21:04:20ZengAccademia Piceno Aprutina dei VelatiRatio Mathematica1592-74152282-82142023-12-0148010.23755/rm.v48i0.951817Inventory model with preservation technology and exponential holding cost in fuzzy scenarioHemalatha Shunmugam0Annadurai Karuppuchamy1SSM Institute of Engineering and Technology, DindigulM.V. Muthiah Government Arts College for Women, Dindigul, IndiaInventories are ubiquitous in the business sector. Since inventory is most frequently incurring expense, stock control is critical for an organization and it must be scrimping and saving in contemplation of function the merchandising fruitfully. In this paper, an inventory model for a deteriorating item under exponential holding cost with collaborative preservation technology investment under carbon policy is considered. Also, this study is developed in a fuzzy scenario by employing triangular fuzzy numbers. Signed distance method is utilized to enhance decision making and optimization. Further the convexity of the total cost function for both the crisp and the fuzzy case is established. The objective is to determine the optimal investment in preservation technology and the optimal cycle length so as to minimize the total cost. Moreover, some managerial results are obtained by using sensitivity analysis and graphical representation is also carried out. The applications of the proposed model is used in the fields of constructing machinery or heavy duty construction equipment, specific chemicals and processed food.http://eiris.it/ojs/index.php/ratiomathematica/article/view/951carbon emissionpreservation technologysigned distance methodstock dependent demandtriangular fuzzy number |
| spellingShingle | Hemalatha Shunmugam Annadurai Karuppuchamy Inventory model with preservation technology and exponential holding cost in fuzzy scenario Ratio Mathematica carbon emission preservation technology signed distance method stock dependent demand triangular fuzzy number |
| title | Inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| title_full | Inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| title_fullStr | Inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| title_full_unstemmed | Inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| title_short | Inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| title_sort | inventory model with preservation technology and exponential holding cost in fuzzy scenario |
| topic | carbon emission preservation technology signed distance method stock dependent demand triangular fuzzy number |
| url | http://eiris.it/ojs/index.php/ratiomathematica/article/view/951 |
| work_keys_str_mv | AT hemalathashunmugam inventorymodelwithpreservationtechnologyandexponentialholdingcostinfuzzyscenario AT annaduraikaruppuchamy inventorymodelwithpreservationtechnologyandexponentialholdingcostinfuzzyscenario |