Abstract
In the present work, we studied an inventory model under quadratic demand rate, linearly time-dependent holding cost, constant deterioration rate and allowed shortages. Intuitionistic fuzzy set (IFS) theory is an efficient tool to reduce the uncertainty that occurs due to hesitation, so we studied the considered model under intuitionistic fuzzy set theory. Further, the model is transformed into an intuitionistic fuzzy inventory model by taking the decision variables as triangular intuitionistic fuzzy numbers. To optimize the best inventory policy under the intuitionistic fuzzy environment, the alpha-cut approach is used for the defuzzification of all intuitionistic fuzzy decision variables. Regarding the proposed model, a numerical example is presented to validate the methodology.
Published Version
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