Triangular Neutrosophic Based Production Reliability Model of Deteriorating Item with Ramp Type Demand under Shortages and Time Discounting

Abstract

An economic production quantity model with triangular neutrosophic environment has been
developed for deteriorating items with ramp type demand rate and reliability dependent unit
production. The main objective of this paper is to determine the most cost effective production to
generate better quality items under time discounting. Additionally, it is considered that the deterioration
function deals with three parameters Weibull's distribution under finite time horizon. Moreover, it also
considered the effect of shortages which are partially backordered and partially lost in sale. Here the
reliability of the production process along with the production period is considered as decision variables.
A numerical example is studied in both crisp and neutrosophic environment and a comparative analysis
is performed here. It is observed that the model performs better in triangular neutrosophic arena rather
than crisp domain. Finally, a sensitivity analysis of optimal solution is observed for some parameters and
some crucial decision is taken with managerial insight.