Expected Value of Exponential Fuzzy Number and Its Application to Multi-item Deterministic Inventory Model for Deteriorating Items

Possibility, necessity, and credibility measures play a significant role to measure the chances of occurrence of fuzzy events. In this paper, possibility, necessity, and credibility measures of exponential fuzzy number, and its expected value has been derived. A multi-item two-warehouse deterministic inventory model for deteriorating items with stock-dependent demand has been developed. For the proposed inventory model, the different costs and other parameters are considered in exponential fuzzy nature. Solution methodology of this model using expected value has been discussed. A numerical example is considered to illustrate the multi-item two-warehouse deterministic inventory model. Finally, few sensitivity analyses are presented under different rates of deterioration to check the validity of the proposed model.