Application of Triangular Fuzzy Neutrosophic Number to an Effective Economic Order Quantity Model

Abstract

The advance payment of acquiring cost is mostly encouraged by both supplier and retailer in current situations. This chapter discusses the economic order quantity model with multiple payments of acquiring cost in advance at equal intervals. The current research examines two-warehouse economic order quantity model with imperfect items under neutrosophic environment by considering the proportion of defective product as triangular fuzzy neutrosophic number. An inventory model is framed, and the proposed model is formulated under triangular neutrosophic environment. The expected total profit and the optimal order quantity have been computed under both the crisp and the neutrosophic sense. De-neutrosophication of the proposed model has been done using expected value of triangular fuzzy neutrosophic number. The numerical illustration is analyzed in both crisp and neutrosophic situation along with the comparative studies. The sensitivity analysis is performed to show the effect of neutrosophication on defective rate along with the changes in parameters.