Economic Order Quantity in a Fuzzy Environment for a Periodic Inventory Model with Variable Demand

Abstract

The technique of limiting expenditure plays a critical part in an organization’s ability to governthe smooth operation of its management system. The economic order quantity is calculated by solving a nonlinearproblem, and the best solution is investigated in a fuzzy and intuitionistic fuzzy environment. The overall cost ismade up of several factors, such as demand, holding, and ordering costs. The demand and stock-out characteristicsare fuzzified using fuzzy and intuitionistic fuzzy numbers. Numerical analysis results show the relation between thetwo fuzzy numbers on the basis of sensitivity analysis.