Inventory Models: A Management Perspective: Methods & Application of EOQ and Fuzzy EOQ Models

Inventory Models with management perspective are vitally important to almost any type of industry. Investments in raw materials, qualitative goods, space, budget, fuzzy system costs, spare parts, variable ordering cost, percentage carrying cost, allowing costs for promotion of the finished products, disposal cost of deteriorated items can lead to high operating costs, and decreased production efficiency if these are not controlled. This book focuses on the problems of inventory models with management perspective in small-scale or large-scale manufacturing industries and discusses different EOQ and Fuzzy EOQ model to optimize the available resources with constraints. It also examines sensitivity analysis, comparative analysis and critically reviews of their performance in the area of inventory control in crisp and fuzzy decision space. The book is designed as a text on Inventory Models: A Management perspective for PG pursuing courses in Commerce, Mathematics, Statistics, Management, Mechanical Engineering, Industrial/Production Engineering. It is also suitable for all those studying for professional qualifications such as CA, ICWA, IMBA, MBA, MCA, MFC and CS.