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

G  Nagoor Gani; U Mohammed  Rafi

doi:10.48165/

Authors

G Nagoor Gani Associate Professor, P .G & Research Department of Mathematics, Jamal Mohamed College (Autonomous), Tiruchirappalli, Tamil Nadu 620020, India.
U Mohammed Rafi Full-time Research Scholar, P.G. & Research Department of Mathematics, Jamal Mohamed College (Autonomous), Tiruchirappalli, Tamil Nadu 620020, India.

DOI:

https://doi.org/10.48165/

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

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.

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