LEARNING EFFECT ON INVENTORY MODEL IN FUZZY ENVIRONMENT WITH TRADE- CREDIT FINANCING

Abstract

Now-a-days, learning’s awareness is increasing in various disciplines because impact of learning has a direct impact on profit or loss, and it is a promotional deemed effective tool for inventory management. The supplier wants an appreciable coordination with the buyers and analyzes with full detail about the concerned cost and the demand parameters as to how much suitable the demand and the respective costs should be for the buyer. The fuzzy analysis is a good tool for examining the performance as well the output of imprecise parameters involved in the business dealing’s procedure. The selling price,demand rate and ordering cost per unit has been assumed imprecise in nature. In addition, these entities are also called fuzzy triangular numbers. As per considerations, a mathematical model has been developed with learning concept and credit financing under fuzzy environment. After computation, minimum annual cost is obtained owing to the learning phenomenon in the inventory carrying cost and a suitable range of unit selling price, demand rate and ordering cost due to the fuzzy properties. The optimal cost in fuzzy environment is de-fuzzified with the help of the centroid process. Lastly, some numerical examples as well as sensitivity analysis have been illustrated to verify the present model.