A NOTE ON ECONOMIC LOT-SIZE MODEL WITH REPLENISHMENT WITHOUT SHORTAGE WITH FUZZY PARAMETERS

The use of fuzzy set theory in decision making problem has drawn considerable attention of researchers at a greater extent. It has become an indispensible part for decision makers to handle imprecisions. In the present study, the economic lot-size model with replenishment has been considered. Hexagonal fuzzy number is used for different inventory parameters. The arithmetic operations on hexagonal fuzzy numbers discussed by researchers have also been discussed in order to draw conclusion about optimality. Two different cases of the lot-size model were studied and an algorithm is proposed for the solution. Ranking function was used to make comparison among the optimal solutions.