A production lot-size model with Fuzzy-Ramp type demand and fuzzy deterioration rate under permissible delay in payments

Abstract

A production lot-size inventory model is developed with finite production rate, fuzzy deterioration and demand rate under permissible delay in payments. Here it is assumed that the initial demand rate of ramp-type demand and the deterioration rate are uncertain in fuzzy sense i.e., imprecise in nature. The initial demand rate and deterioration rate are taken as triangular fuzzy number. Using α -cut for defuzzification, the total variable cost per unit time is derived. The multi-objective model is solved using Global Criteria Method and is illustrated with a numerical example. Sensitivity analysis has been made for different values of α .