A FUZZY INVENTORY MODEL WITH PERMISSIBLE DELAY IN PAYMENTS

S. J. Zita, J. Arockiatheo, S. M. laura and S. Rexlinjeyakumari

  DOI:
  https://doi.org/10.37418/amsj.9.4.65

Full Text

In this paper, our aim is to frame a mathematical model where the payments by the retailer to the supplier can be delayed for a certain permissible period of time. We have to calculate the economic order quantity and the total cost under the circumstance where payments can be delayed. For fuzzy sense, we use trapezoidal fuzzy numbers. Defuzzification is done by using the Beta distribution method. The optimal solution is found using the Kuhn- Tucker conditions. A numerical example follows to justify the solution procedure.


Keywords:
Beta Distribution function, Kuhn-Tucker conditions, Permissible delay in payments, Trapezoidal Fuzzy Number.