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Development of an EOQ Model for Single Source to Multi Destination: Multi Deteriorating Products under Fuzzy Environment

Development of an EOQ Model for Single Source to Multi Destination: Multi Deteriorating Products under Fuzzy Environment

Kanika Gandhi, P. C. Jha, M. Mathirajan
Copyright: © 2012 |Volume: 3 |Issue: 4 |Pages: 20
ISSN: 1942-3594|EISSN: 1942-3608|EISBN13: 9781466610743|DOI: 10.4018/jaec.2012100104
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MLA

Gandhi, Kanika, et al. "Development of an EOQ Model for Single Source to Multi Destination: Multi Deteriorating Products under Fuzzy Environment." IJAEC vol.3, no.4 2012: pp.51-70. http://doi.org/10.4018/jaec.2012100104

APA

Gandhi, K., Jha, P. C., & Mathirajan, M. (2012). Development of an EOQ Model for Single Source to Multi Destination: Multi Deteriorating Products under Fuzzy Environment. International Journal of Applied Evolutionary Computation (IJAEC), 3(4), 51-70. http://doi.org/10.4018/jaec.2012100104

Chicago

Gandhi, Kanika, P. C. Jha, and M. Mathirajan. "Development of an EOQ Model for Single Source to Multi Destination: Multi Deteriorating Products under Fuzzy Environment," International Journal of Applied Evolutionary Computation (IJAEC) 3, no.4: 51-70. http://doi.org/10.4018/jaec.2012100104

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Abstract

Industry environment has become competitive because of product’s short life cycle. Competition reaches to extreme, when products are deteriorating which further makes demand uncertain. Generally, in deriving the solution of economic order quantity (EOQ) inventory model, the authors consider the demand rate as constant quantity. But in real life, demand cannot be forecasted precisely which causes fuzziness in related constraints and cost functions. Managing inventory, procurement, and transportation of deteriorating natured products with fuzzy demand, and holding cost at source and destination becomes very crucial in supply chain management (SCM). The objective of the current research is to develop a fuzzy optimization model for minimizing cost of holding, procurement, and transportation of goods from single source point to multi demand points with discount policies at the time of ordering and transporting goods in bulk quantity. A real life case study is produced to validate the model.

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