FUZZY EOQ MODEL FOR DETERIORATING ITEMS WITH TIME-VARYING DEMAND AND BACKLOGGING OPTION

Dealing with inventories of deteriorating items is a major issue for all successful decision makers across industries. In this paper, we consider an inventory model for deteriorating items in declining market with SFI (shortage followed by inventory) policy. We extend an existing crisp inventory model with complete/partial backlogging option under fuzzy environment. We consider all the cost components in the fuzzy sense and use centroid method to defuzzify the annual total cost of the system derived in fuzzy sense. We derive some analytical results related to structural properties of the model. We take a numerical example to illustrate the optimal results and investigate the sensitivity of the key parameters involved in the model.