Title: Development of trust among customer and producer inventory model, when demand is dependent on selling price and with shortage under the environment of uncertainty

Authors: Surendra Vikram Singh Padiyar; Kanchan Joshi; S.R. Singh; Dipti Singh

Addresses: Department of Mathematics, Sardar Bhagat Singh Government Post Graduate College Rudrapur, Uttrakhand, India ' Department of Physics, Government Degree College Haldwani City, Uttrakhand, India ' Department of Mathematics, CCS University, Meerut – 250004, India ' Department of Mathematics, CCS University, Meerut – 250004, India

Abstract: Mostly, it is observed that when the individual inventory model is given importance, then demand is either constant or time dependent, but at the same time, the selling value of the inventory cannot be ignored. Generally, for many consumer products, it is observed that the selling price of an item greatly influences the rate of consumption. Due to which the demand of the product may vary with the selling price, also it is necessary to check the reliability of the inventory maintained during production. And when the demand of the product depends on the selling price and is favourable to the customer, then the possibility of shortage is also high. Therefore, it is necessary to give importance to the impact of selling price and shortage while developing the inventory model. Along with this, many types of uncertainties arise during the production, and to overcome these uncertainties, the model is developed by making a fuzzy model. Numerical examples and sensitivity analysis of key parameters are provided in order to investigate the effect on the optimal total cost of the system.

Keywords: imperfect production; selling price demand; time dependent deterioration; shortage; fuzzy environment.

DOI: 10.1504/IJADS.2025.144784

International Journal of Applied Decision Sciences, 2025 Vol.18 No.2, pp.189 - 214

Received: 13 Apr 2023
Accepted: 21 Aug 2023
Published online: 03 Mar 2025 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article