EOQ model with price, marketing, service and green dependent neutrosophic demand under uncertain resource constraint: A geometric programming approach
Keywords:Inventory, Pentagonal neutrosophic number, Possibility, Chance constrained programming, Trust measure
In the competitive market, a customer’s choice for an item depends on several factors like management’s marketing strategy and service, the item’s price and greenness. Demand increases with the marketing strategy, service and item’s greenness, but it is inversely related to the item’s price. These relations are non-linear and imprecise. Recently, neutrosophic set has been introduced to represent impreciseness more realistically. Moreover, resources (capital, storage space, etc.) are generally uncertain (random or imprecise). Considering the above business scenarios, profit maximization EOQ models with price, marketing, service, and green dependent neutrosophic demand and order quantity dependent unit production cost are developed under different uncertain resource constraints. Models’ parameters are pentagonal neutrosophic (PN) numbers. The proposed models are first made deterministic and then solved using the geometric programming technique. The PN parameters are made crisp using the score function. The random, fuzzy, rough and trapezoidal neutrosophic resource constraints in different models are converted to crisp using possibility measure, chance-constrained technique, trust measure and (α, β, γ)-cut with weighted mean, respectively. These processes reduce the objective function and constraints to signomial forms, and the reduced problems are solved
by geometric programming technique with the degree of difficulty 2. Numerical experiments and sensitivity analyses are performed to illustrate the models.
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