Title :
An EPQ model with two levels of trade credit policy under supplier credits linked to ordering quantity based on the triangular fuzzy numbers
Author :
Liang-Ho Chen ; Chih-Te Yang ; Tien-Tsai Huang ; Shui-Ching Chang
Author_Institution :
Dept. of Ind. Eng. & Manage., Tungnan Univ., New Taipei, Taiwan
Abstract :
In real world, there are many uncertain conditions which cannot be absolutely pre-determined or controlled by the decision maker. Then, by the empirical experience in the market behavior, there are no fixed carrying cost rate, interest paid rate and interest earned rate. In this paper, we will extend Chen et al. [1] model with fuzzification in the carrying cost rate, interest paid rate and interest earned rate, simultaneously, based on the triangular fuzzy numbers to fit the real world. Then, in our new fuzzy model, we will discuss some conditions or theorems to find the optimal solution for the total variable cost per unit time in fuzzy sense. Moreover, we will take some examples to illustrate our proposed model.
Keywords :
decision making; economic indicators; fuzzy set theory; number theory; optimisation; order processing; supply chains; uncertain systems; EPQ model; carrying cost rate; credit policy; decision maker; fuzzification; fuzzy model; interest earned rate; interest paid rate; inventory model; market behavior; optimal solution; ordering quantity; supplier credits; total variable cost; triangular fuzzy numbers; uncertain conditions; Computational modeling; Convex functions; Delay; Educational institutions; Industrial economics; Mathematical model; System-on-a-chip; inventory model; trade credit; triangular fuzzy number;
Conference_Titel :
Information Security and Intelligence Control (ISIC), 2012 International Conference on
Conference_Location :
Yunlin
Print_ISBN :
978-1-4673-2587-5
DOI :
10.1109/ISIC.2012.6449773
