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Application of Generalized Hukuhara derivative approach in an economic production quantity model with partial trade credit policy under fuzzy environment

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  • Majumder, Pinki
  • Mondal, Sankar Prasad
  • Bera, Uttam Kumar
  • Maiti, Manoranjan

Abstract

In this present study, a production inventory model with partial trade credit is formulated and solved in fuzzy environment via Generalized Hukuhara derivative approach. To capture the market, a supplier offers a trade credit period to its retailers. Due to this facility, retailer also offers a partial trade credit period to his/her customer to boost the demand of the item. In practical life situation, demands are generally dependent upon time. Constant demand of an item varies time to time. In this vague situation, demands are taken as time dependent, where its constant part is taken as Left Right - type fuzzy number. In this paper, Generalized Hukuhara derivative approach is used to solve the fuzzy inventory model. Four different cases are considered by using Generalized Hukuhara-(i) differentiability and Generalized Hukuhara-(ii) differentiability. The objective of this paper is to find out the optimal time so as the total inventory cost is minimum. Finally the model is solved by generalized reduced gradient method. The proposed model and technique are illustrated by numerical examples. Some sensitivity analyses both in tabular and graphical forms are presented and the effects of minimum cost with respect to various inventory parameters are discussed.

Suggested Citation

  • Majumder, Pinki & Mondal, Sankar Prasad & Bera, Uttam Kumar & Maiti, Manoranjan, 2016. "Application of Generalized Hukuhara derivative approach in an economic production quantity model with partial trade credit policy under fuzzy environment," Operations Research Perspectives, Elsevier, vol. 3(C), pages 77-91.
    • Handle: RePEc:eee:oprepe:v:3:y:2016:i:c:p:77-91
    DOI: 10.1016/j.orp.2016.08.002
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    References listed on IDEAS

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    7. Majumder, P. & Bera, U.K. & Maiti, M., 2016. "An EPQ model for two-warehouse in unremitting release pattern with two-level trade credit period concerning both supplier and retailer," Applied Mathematics and Computation, Elsevier, vol. 274(C), pages 430-458.
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    3. Rakibul Haque & Mostafijur Rahaman & Shariful Alam & Pradeep Kumar Behera & Sankar Prasad Mondal, 2025. "Generalized neutrosophic Laplace transform and its application in an EOQ model with price and deterioration-dependent demand," OPSEARCH, Springer;Operational Research Society of India, vol. 62(2), pages 550-582, June.

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