Stock Dependent EOQ Model of Imperfect Quality under Cloudy Fuzzy Environment

Abstract

In this article, an EOQ deteriorating model is developed where demand is stock dependent.Shortages are not allowed for this model. This model is developed for both crisp and cloudy fuzzy environments where discount increases if number of defects increase in the lots for imperfect quality items. Yager’s Ranking index is used for defuzzification. The results are numerically verified.Also, sensitivity analysis of the model is considered to validate the crisp model for optimality.

 Keywords: deterioration, EOQ, stock dependent demand, cloudy fuzzy number, Yager’s Ranking Index.