Optimization of EOQ Model with Limited Storage Capacity by Neutrosophic Geometric Programming

Abstract

In this article, we present deterministic single objective economic order quantity model with limited storage
capacity in neutrosophic environment. We consider variable limit production cost and time dependent holding cost into
account. Here we minimize total average cost of proposed model by applying neutrosophic geometric programming,
which is obtained by extending existing fuzzy and intuitionistic fuzzy geometric programming for solving resultant
non-linear optimization model. Next we consider numerical application to show that optimal solution obtained by
neutrosophic geometric programming is more desirable than that of crisp, fuzzy and intuitionistic fuzzy geometric
programming. Also we perform sensitivity analysis of parameters and present key managerial insights. Finally we
draw the conclusions