Optimization of triangular neutrosophic based economic order quantity model under preservation technology and power demand with shortages

Abstract

The primary objective of this article is to develop a mathematical model and determine the 
optimal policies of an inventory system involving power demand and controlled deterioration 
through preservation technology. This model comes in handy in a power demand-oriented 
inventory system with demand high at the end of the period. The model incorporates backlogged 
shortages and linear holding cost. The triangular neutrosophic numbers (TNN’s) are used for a 
nuanced representation of uncertain and imprecise inventory-related expenses. An efficient 
algorithm is constructed to minimize the total cost, and obtain optimal positive inventory time, 
optimum cycle time and minimum preservation technology investment. Few numerical examples 
are used to illustrate and validate the model. The comparative study conducted between models 
with and without preservation technology investment reveals a significant reduction in total 
inventory costs facilitated by the preservation facility. Also, the numerical results obtained in crisp 
and neutrosophic environment are compared. Specific previously obtained results are discussed to 
illustrate the theoretical findings. Sensitivity analysis of the model provides managerial insights 
replicating reality. 

DOI:10.5281/zenodo.10780566