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Bulletin of Pure and Applied Sciences- Math& Stat. (Started in 1982)
eISSN: 2320-3226
pISSN: 0970-6577
Impact Factor: 4.895 (2017)
DOI: 10.5958/2320-3226
Editor-in-Chief:  Prof. Dr. Lalit Mohan Upadhyaya
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Article Details

Bulletin of Pure and Applied Sciences- Math& Stat. (Started in 1982)
Year : 2019, Volume & Issue : BPAS-Maths & Stat 38E(1), JAN-JUN 2019
Page No. : 348-355, Article Type : Original Aticle
Article DOI : 10.5958/2320-3226.2019.00037.7 (Received on 20.01.2019 Revised on 28.05.2019 Accepted on 07.06.2019)

A SIMPLISTIC METHOD TO WORK OUT THE EOQ/EPQ WITH SHORTAGES BY APPLYING ALGEBRAIC METHOD AND ARITHMETIC GEOMETRIC MEAN INEQUALITY IN FUZZY ATMOSPHERE

A. Nagoor Gani1, U. Mohammed Rafi2,*
Author’s Affiliation : 1Associate Professor, P .G & Research Department of Mathematics, Jamal Mohamed College (Autonomous), Tiruchirappalli, Tamil Nadu 620020, India. E-mail: [email protected] 2Full-time Research Scholar, P.G. & Research Department of Mathematics, Jamal Mohamed College (Autonomous), Tiruchirappalli, Tamil Nadu 620020, India. E-mail: [email protected]

Corresponding Author : U. Mohammed Rafi, Full-time Research Scholar, P.G & Research Department of Mathematics, Jamal Mohamed College (Autonomous), Tiruchirappalli, Tamil Nadu 620020, India.,
E-Mail:-[email protected]


Abstract

In this research, we discuss a new method to appraise the EOQ/EPQ with shortages by manipulating algebraic method and Arithmetic Geometric Mean (AGM) inequality in fuzzy surroundings. This article proposes to find both the optimal lot size and optimal shortage level without any derivatives. This method is very simple to analogize with other procedure to derive EOQ/EPQ. Here the demand rate and shortage cost are taken as trapezoidal fuzzy number. The effectiveness of the proposed method is illustrated by means of numerical examples

2010 Mathematics Subject Classification - 03E72, 90C05, 90C33, 90B05

Keywords

Algebraic method, Inventory, Economic Order Quantity (EOQ), Economic Production Quantity (EPQ), Arithmetic Geometric Mean (AGM) inequality, Cost comparison optimization, Shortage level, Trapezoidal fuzzy number
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