Abstract
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Highlights
Deterioration is a trending research area in inventory model
The model with three-parameter Weibull as well as parabolic deterioration and various demands and holding cost are proposed by Sahoo and Tripathy [15] & [16]
Fuzzy inventory models are more realistic than the conventional inventory models
Summary
Deterioration is a trending research area in inventory model. It is a challenging issue to develop inventory model for deteriorating items such as food stuffs, vegetables, food grains, medicines, fashion cosmetics and electronics items etc. Nagar and Surana [10] proposed fuzzy deteriorating inventory model with fluctuating demand and using inventory parameters as pentagonal fuzzy numbers, while, Mondal and Mandal [8] discussed properties and applications of pentagonal fuzzy number. This model is discussed for items which deteriorate from the beginning of time cycle where demand and deterioration are considered as Weibull and time proportional respectively. Deterioration rate and all costs are taken as mixture and subsequently pentagonal fuzzy numbers. The useful graphs and tables with sensitivity analysis are carried out to analyze the variability in the optimal solution with respect to change in various system parameters
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