International Journal of Neutrosophic Science

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https://doi.org/10.54216/IJNS

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2690-6805ISSN (Online) 2692-6148ISSN (Print)

Volume 23 , Issue 4 , PP: 181-193, 2024 | Cite this article as | XML | Html | PDF | Full Length Article

Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization

K. Kalaiarasi 1 * , N. Anitha 2 , S. Swathi 3 , B. Ranjitha 4

  • 1 PG and Research Department of Mathematics, Cauvery College for Women (Autonomous), Affiliated to Bharathidasan University, Tiruchirappalli-620018, Tamil Nadu, India; D. Sc (Mathematics) Researcher Fellow, Srinivas University, Surathkal, Mangaluru, Karnataka-574146. - (kalaishruthi120@gmail.com)
  • 2 Department of Mathematics, Periyar University Centre for Postgraduate and Research Studies, Dharmapuri - 635205, Tamil Nadu, India - (anithaarenu@gmail.com)
  • 3 Ph.D Research Scholar, PG and Research Department of Mathematics, Cauvery College for Women (Autonomous), Affiliated to Bharathidasan University, Tiruchirappalli-620018, Tamil Nadu, India. - (swathimaths30@gmail.com)
  • 4 Department of Mathematics, Mohan Babu University, Tirupati-517501, Andra Pradesh, India - (ranjitha.b@vidyanikethan.edu)
  • Doi: https://doi.org/10.54216/IJNS.230414

    Received: June 27, 2023 Revised: January 16, 2024 Accepted: March 08, 2024
    Abstract

    This research introduces the Neutrosophic Vendor-Buyer Economic Order Quantity (EOQ) model, integrating Neutrosophic Set Theory and Particle Swarm Optimization (PSO) for advanced inventory management. Addressing uncertainties in demand and costs, Neutrosophic Sets quantify truth, indeterminacy, and falsity degrees for key parameters. The model, employing PSO inspired by collective behaviour in nature, aims to minimize the combined total cost (C) encompassing vendor and buyer expenses. A grocery store scenario illustrates the approach, demonstrating substantial total cost reduction through the optimization of decision variables. MATLAB R2015a visualizations include a mesh plot depicting cost changes across varying EOQ and demand variability values, emphasizing optimal solutions. A bar chart compares initial and optimized total costs, showcasing efficiency gains. Cost breakdowns and pie charts detail the impact on vendor and buyer expenses. Sensitivity analysis systematically explores variable influences, aiding decision-makers in understanding trade-offs and optimal ranges by using Python. This comprehensive framework contributes empirical insights for practical implementation, enabling businesses to make informed decisions and enhance adaptive inventory strategies efficiently.

    Keywords :

    Neutrosophic Set , Economic Order Quantity , Optimization , Total Cost , MATLAB R2015a , Python.

    References

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    Cite This Article As :
    Kalaiarasi, K.. , Anitha, N.. , Swathi, S.. , Ranjitha, B.. Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization. International Journal of Neutrosophic Science, vol. , no. , 2024, pp. 181-193. DOI: https://doi.org/10.54216/IJNS.230414
    Kalaiarasi, K. Anitha, N. Swathi, S. Ranjitha, B. (2024). Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization. International Journal of Neutrosophic Science, (), 181-193. DOI: https://doi.org/10.54216/IJNS.230414
    Kalaiarasi, K.. Anitha, N.. Swathi, S.. Ranjitha, B.. Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization. International Journal of Neutrosophic Science , no. (2024): 181-193. DOI: https://doi.org/10.54216/IJNS.230414
    Kalaiarasi, K. , Anitha, N. , Swathi, S. , Ranjitha, B. (2024) . Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization. International Journal of Neutrosophic Science , () , 181-193 . DOI: https://doi.org/10.54216/IJNS.230414
    Kalaiarasi K. , Anitha N. , Swathi S. , Ranjitha B. [2024]. Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization. International Journal of Neutrosophic Science. (): 181-193. DOI: https://doi.org/10.54216/IJNS.230414
    Kalaiarasi, K. Anitha, N. Swathi, S. Ranjitha, B. "Optimization of Neutrosophic Vendor-Buyer Economic Order Quantity Model Using Particle Swarm Optimization," International Journal of Neutrosophic Science, vol. , no. , pp. 181-193, 2024. DOI: https://doi.org/10.54216/IJNS.230414