Fuzzy Inventory Model for Imperfect Items with Price Discount and Penalty Maintenance Cost
V. Kuppulakshmi, C. Sugapriya, J. Kavikumar, D. Nagarajan
Source abstract
The present paper considers the fuzzy economic manufacturing model (FEMM) for an inventory model with an imperfect production process that has been studied along with rework. During the pandemic, it is evident that the products accumulated without a sale, which has increased the maintenance cost of the products. This research paper compares a special sale of products with discount and without discount prices both in the fuzzy environment and in the crisp case. New computing methods based on fuzzy logic are being utilized to enhance identification, decision making, and optimization. A triangular fuzzy number is applied in the economic production quantity to emphasize the importance of optimal manufacturing. The EPQ model’s optimal total cost is obtained in the crisp version. It is to be noted that this model is developed in the fuzzy sense by using the deterioration as a triangular fuzzy number. The applications of this model in the fields are constructing customized industrial machinery or heavy‐duty construction equipment, specific chemicals, and processed food. By using MATLAB R2021, a numerical example of the optimal solution is provided. Finally, the present research discusses how changing several parameters affects the optimum total cost.
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