Triangular Neutrosophic Based Production Reliability Model of Deteriorating Item with Ramp Type Demand under Shortages and Time Discounting

Abstract

An economic production quantity model with triangular neutrosophic environment has been developed for deteriorating items with ramp type demand rate and reliability dependent unit production. The main objective of this paper is to determine the most cost effective production to generate better quality items under time discounting. Additionally, it is considered that the deterioration function deals with three parameters Weibull's distribution under finite time horizon. Moreover, it also considered the effect of shortages which are partially backordered and partially lost in sale. Here the reliability of the production process along with the production period is considered as decision variables. A numerical example is studied in both crisp and neutrosophic environment and a comparative analysis is performed here. It is observed that the model performs better in triangular neutrosophic arena rather than crisp domain. Finally, a sensitivity analysis of optimal solution is observed for some parameters and some crucial decision is taken with managerial insight

Keywords

• ramp-type demand
• finite time horizon
• time-value of money
• reliability
• triangular neutrosophic number