Cost Optimization In Intuitionistic Fuzzy Eoq Model With Deteriorating Items, Power Demand And Partial Backlogging

Abstract

This paper deals with an inventory system with deteriorating items, power pattern of demand and partial backlogging. Considering the fluctuations in the various costs associated with the inventory, the model has been formulated with intuitionistic fuzzy costs. The total costs is computed as the sum of the various costs involved in the inventory system. It is minimized to obtain the optimal operating policies for the system. Triangular intuitionistic fuzzy numbers are used to represent the uncertainty in the costs. To defuzzify the total cost, Graded Mean Integration Representation Method and Signed Distance Method are used. Existence and uniqueness condition for the optimal solution is established. Further, suitable illustration is given with sensitivity analysis