An EPQ Model of Deteriorating Items under Partial Trade Credit Financing and Demand Declining Market in Crisp and Fuzzy Environment

In this manuscript, an Economic production quantity (EPQ) model have been formulated for deteriorating items under partial trade credit policy with crisp and fuzzy demand. For fuzzy demand we take demand as a triangular fuzzy number & we consider upper α1−cut & lower α1 − cut of this fuzzy number. Then the annual inventory cost of retailer is divided into two parts upper α1−cut of annual inventory cost & lower α1−cut of annual inventory cost. We use weighted sum method to convert multi objective to a single objective. Here we have to derive optimum cycle time so as to minimize the total average cost. Numerical examples are used to illustrate all results obtained in this paper. Finally the model is solved by Generalized Reduced Gradient(GRG) method and using LINGO(12) software.