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Solution of Basic Inventory Model in Fuzzy and Interval Environments: Fuzzy and Interval Differential Equation Approach
Abstract
In this present paper a basic inventory model is solved in different imprecise environments. Four different cases are discussed: 1) Crisp inventory model, that is, the quantity at present and demand is crisp number; 2) Inventory model in fuzzy environment, that is, the quantity and demand both are fuzzy number; 3) Inventory model in interval environment, that is, the quantity and demand both are interval number and lastly; 4) Inventory model in time dependent fuzzy environment, that is, quantity and demand are both time dependent fuzzy number. Different numerical examples are used to illustrate the model as well as to compute the efficiency of imprecise differential equation approach to solve the model.
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