Multi-item fuzzy inventory model for deteriorating items with finite time-horizon and time-dependent demand

Abstract

This paper develops a finite time-horizon fuzzy multi-deteriorating inventory model with/without shortage, where the demand increases linearly with time. Here, the total profit is to be maximized under the limitation on investment. In this problem, total profit, total investment cost and the time-horizon are fuzzy in nature. The impreciseness in the above objective and constraint goals have been expressed by fuzzy linear/nonlinear membership functions and vagueness in time-horizon by different types of fuzzy numbers. Results are illustrated with numerical examples.

Keywords

• fuzzy inventory
• deteriorating items
• backlogged shortages
• dynamic demand
• finitetime-horizon