An EOQ Model with Demand Dependent on Unit Cost - Signed Distance Method

Abstract

An estimation of minimum total cost of an inventory model with demand dependent on unit
cost has been considered with definite and unconditional situation by making use of fuzzy
concepts. Signed distance method is applied to defuzzify the uncertain nature of the cost
parameters and the decision variables. The optimal solution of the objective function is
attained by making use of KKT conditions approach of optimization technique. A
comparison between the crisp and fuzzy solutions are described using numerical examples.