Fuzzy Approach to Replacement Problem with Value of Money Changes with Time
نویسندگان
چکیده
Fuzzy set has been applied in many real applications to handle uncertainty. The aim of the paper is to study the replacement problem with uncertainty. This problem involves capital cost, scrap value or salvage value, maintenance cost or operating cost, and rate of interest having an imprecise value. Here, we assume the imprecise values as positive trapezoidal fuzzy numbers. Moreover, we consider that the value of money changes with fuzzy rate of interest due to market fluctuations. To deal with this type of problem, we first find out the present worth value of money and then determine the fuzzy annualized costs. By using Yager’s ranking method, comparison of fuzzy annualized costs is done to obtain an optimal replacement policy. Numerical example is provided to check the validity of the proposed method.
منابع مشابه
Presenting a Multi-Objective Mathematical Model for Time-Cost trade off Problem Considering Time Value of Money and Solve it by MOPSO Algorithm
The time - cost tradeoff problem is one of the most critical issues in the project scheduling field and so far, a lot of research has been done with a variety of quantitative and qualitative approaches on this subject. In this research, we intend to provide a two - objective mathematical model which balances crash and delay for activities. So that it provides the right tools for decision makers...
متن کاملA multi-parametric approach for solid transportation problem with uncertainty fuzzy flexible conditions
The most convenient models of Solid Transportation (ST) problems have been justly considered a kind of uncertainty in their parameters such as fuzzy, grey, stochastic, etc. and usually, they suggest solving the main problems by solving some crisp equivalent model/models based on their proposed approach such as using ranking functions, embedding problems etc. Furthermore, there exist some shortc...
متن کاملA Possibility Linear Programming Approach to Solve a Fuzzy Single Machine Scheduling Problem
This paper employs an interactive possibility linear programming approach to solve a single machine scheduling problem with imprecise processing times, due dates, as well as earliness and tardiness penalties of jobs. The proposed approach is based on a strategy of minimizing the most possible value of the imprecise total costs, maximizing the possibility of obtaining a lower total costs, and mi...
متن کاملA New Inventory Model for Deteriorating Items with Price-dependent Demand, Time-value of money, and Shortages
This paper presents a discounted cash-flow approach to an inventory model for deteriorating items with the 
two-parameter Weibull distribution. According to our proposed model, two shortages are considered: back-orders and lost-sales, 
in which the back-order rate is a varying function of the time when the shortage happens. In general, the demand rate is a linear function of the selling p...
متن کاملEstimation of Seigniorage Laffer curve in IRAN: A Fuzzy C-Means Clustering Framework
There are two sources for governments to raise their revenues. The first is the direct taxation levied on output, and the second is seigniorage. Seigniorage is also known as printing new money and is defined as the value of real resources acquired by the government through its power of sovereignty on its monopoly of printing money. The purpose of this paper is to examine the Laffer curve for Se...
متن کامل