Intuitionistic fuzzy optimization technique for the solution of an EOQ model

A purchasing inventory model with shortages where carrying cost, shortage cost, setup cost and demand quantity are considered as fuzzy numbers. The fuzzy parameters are transformed into corresponding interval numbers and then the interval objective function has been transformed into a classical multi-objective economic ordering quantity (EOQ) problem. To minimize the interval objective function, the order relation that represent the decision maker’s preference between interval objective functions have been defined by the right limit, left limit, center and half width of an interval. Finally, the equivalent transformed problem has been solved by intuitionistic fuzzy programming technique. The proposed method is illustrated with a numerical example and sensitivity analysis has been done.