Effect of Deterioration on the Fuzzy based Model for Inventory System under Inflationary Conditions

This paper is portrayed with finding the Economic Order Quantity, EOQ for an inventory model with Weibull deterioration rate and shortages under fuzzy environment. In the existing literature general ramp type function of time is adopted. This model aids in minimizing the total inventory cost to find an optimal replenishment policy. Moreover, it is shown that taking inflation into account has a profound effect on the solution of the problem. . The inventory model is suggested under crisp and fuzzy environment. Therefore the estimate of total costs for each case is derived by using signed distance technique for defuzzification and get minimum expected cost. Simple solution procedures are proposed to efficiently determine the optimal costs for two different cases of the considered problem and provided some numerical illustration.