Two Level Trade Credit EPQ Model with Shortages for a Deteriorating Item with Fuzzy Demand
Abstract
The present research focuses on an Economic Production Quantity (EPQ) model with uncertain demand. To resemble it with reality, shortages are allowed and completely backordered. Besides the present EPQ model has included a two level credit scheme according to which both supplier and retailer are giving relaxation in payment to their respective customers in order to boost up the sales. To illustrate and justify the model five instances have taken and solved. Along with this a sensitivity analysis is done for different parameters.