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Fuzzy inventory model for deteriorating items with permissible delay in payment. (English) Zbl 1120.90301
Summary: We extend the model of {\it A. M. M. Jamal, B. R. Sarker} and {\it S. Wang} [J. Oper. Res. Soc. 48, No. 8, 826--833 (1997; Zbl 0890.90049)] by fuzzifying the carrying cost rate, interest paid rate and interest earned rate simultaneously, based on the interval-valued fuzzy numbers and triangular fuzzy number to fit the real world. We then prove that the estimate of total variable cost per unit time in the fuzzy sense is a strictly pseudo-convex function. As a result, there exists a unique optimal solution to our proposed model. Moreover, we apply the Jamal et al. example to show the results and to compare with the Jamal et al. model.

90B05Inventory, storage, reservoirs
03E72Fuzzy set theory
Full Text: DOI
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