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Multi Item Inventory Model With Demand Dependent On Unit Cost And Varying Lead Time Under Fuzzy Unit Production Cost; A Karush Kuhn Tucker Conditions Approach
Applied and Computational Mathematics
Volume 2, Issue 6, December 2013, Pages: 124-126
Received: Sep. 17, 2013; Published: Nov. 10, 2013
Authors
P. Vasanthi, Department of Mathematics, Sri Ramakrishna Engineering College, Coimbatore-22, TN, India
C. V. Seshaiah, Department of Mathematics, Sri Ramakrishna Engineering College, Coimbatore-22, TN, India
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Abstract
A multi item inventory model with demand dependent on unit price and leading time with limited storage space and set up cost is considered in this paper. The varying production and leading time crashing costs are considered to be continuous functions of unit price and leading time respectively. The model is solved using Karush Kuhn Tucker conditions approach with optimal order quantity, unit price and leading time as decision variables. In most of the real world situations, the cost parameters, the objective functions and constraints of the decision makers are imprecise in nature. In this paper the unit cost has been imposed in fuzzy environment. An optimal total cost is obtained which is illustrated with numerical example for a single item.
Keywords
Inventory, Demand Dependent on Unit Cost, Lead Time, KKT Conditions, Fuzzy Unit Cost
P. Vasanthi, C. V. Seshaiah, Multi Item Inventory Model With Demand Dependent On Unit Cost And Varying Lead Time Under Fuzzy Unit Production Cost; A Karush Kuhn Tucker Conditions Approach, Applied and Computational Mathematics. Vol. 2, No. 6, 2013, pp. 124-126. doi: 10.11648/j.acm.20130206.12
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