A Fuzzy Inventory Model For Non-Instantaneous Deteriorating Items Under Conditions Of Permissible Delay In Payments For N-Cycles

This study develops a fuzzy inventory model to find the minimum relevant inventory cost per unit time for noninstantaneous deteriorating goods over a finite time horizon with exponentially declining demand for n-cycles. The shortages are allowed and back ordered. Under the situation of delay in payments, the inventory model in this study is divided into four cases by the time of shortage, deadline of delay in payment. The holding cost, shortage cost, deterioration cost, purchasing cost and selling price are considered as trapezoidal fuzzy numbers. The signed distance method is used for defuzzification. A numerical example is presented to illustrate the model and the sensitivity analysis is also studied.