NEUTROSOPHIC INVENTORY MODEL WITHOUT SHORTAGES
M. MULLAI *
Department of Mathematics, Alagappa University, Karaikudi, Tamilnadu, India.
S. BROUMI
Laboratory of Information processing, University Hassan II, B.P 7955, Sidi Othman, Casablanca, Morocco.
*Author to whom correspondence should be addressed.
Abstract
Inventory management policies are very important for the successful operations on firms involving inflow, outflow and storage of goods. This paper deals with an economic order quantity(EOQ) inventory model without shortages where the objective is to determine the optimal cost and an optimum order quantity of inventory by taking certain non-deterministic parameters as triangular neutrosophic numbers in neutrosophic environment. In this paper, demand and ordering cost are assumed to triangular neutrosophic numbers by the decision makers. The advantage of this model is that it is robust model when indeterminacy occurs while taking important decisions in business. The proposed method is illustrated with a numerical example and analysed by sensitivity analysis method.
Keywords: Economic order quantity, neutrosophic demand, neutrosophic inventory cost parameters, neutrosophc sets, single valued neutrosophic numbers, triangular neutrosophic number