A robust replenishment model for deteriorating items considering ramp-type demand and inflation under fuzzy environment

Abstract

Supply chain performance directly depends on demand pattern, inventory management and control strategies of organisations apart from other supply chain activities. Effective replenishment policy can increase the performance of logistics and supply chain activities and customer satisfaction. Optimal inventory model can also reduce overall replenishment cost and improve financial performance of the organisation. This study focuses on developing a replenishment model for deteriorating products with ramp-type demand rate under the consideration of inflation and partial backlogging. The nature of the demand function is a piecewise exponential function. The proposed model is developed under fuzzy environment, which can easily handle uncertainty and impreciseness associated with parameters. The illustrative numerical example has given in crisp as well as in fuzzy sense to demonstrate the solution procedure for the proposed approach. Sensitivity analysis is also performed to check the robustness of the proposed model.