Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters
In this age of technology, the manufacturing sectors are embracing the elements of industry 5.0 to setup a robust kind of production process. This research work proposes a novel neutrosophic production inventory model encompassing the cost parameters of technology inaddition to the conventional inve...
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| Format: | Article |
| Language: | English |
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University of New Mexico
2024-11-01
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| Series: | Neutrosophic Sets and Systems |
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| Online Access: | https://fs.unm.edu/NSS/11Theeba_NeutrosophicIndustry.pdf |
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| author | Florentin Smarandache A. Theeba Nivetha Martin |
| author_facet | Florentin Smarandache A. Theeba Nivetha Martin |
| author_sort | Florentin Smarandache |
| collection | DOAJ |
| description | In this age of technology, the manufacturing sectors are embracing the elements of industry 5.0 to setup a robust kind of production process. This research work proposes a novel neutrosophic production inventory model encompassing the cost parameters of technology inaddition to the conventional inventory costs. In this model the demand is expressed as function of technology of the form 𝛼𝑒−𝛽𝑡 + 𝛾𝑡 with the coefficients α, β and 𝛾dealing with the initial demand, decrease in demand over time and increase in demand with the adoption of new technology. The neutrosophic model developed in this work addresses the decision circumstances of indeterminacy in addition to uncertainty. The primary objective of this paper is to introduce the notion of technology driven demand and new types of costs associated with technology in a neutrosophic modelling environment. The proposed neutrosophic model is simulated and sensitively analyzed to draw inferences of the parameters over the production quantity q(t). The efficiency of this neutrosophic model is determined on making comparative analysis with crisp data sets. The neutrosophic model possesses high degree of flexibility and applicability in technology dominant manufacturing firms facilitating the decision makers to design optimal solutions. |
| format | Article |
| id | doaj-art-186112be98a544d09420747f8f3da77e |
| institution | Kabale University |
| issn | 2331-6055 2331-608X |
| language | English |
| publishDate | 2024-11-01 |
| publisher | University of New Mexico |
| record_format | Article |
| series | Neutrosophic Sets and Systems |
| spelling | doaj-art-186112be98a544d09420747f8f3da77e2025-08-22T12:28:48ZengUniversity of New MexicoNeutrosophic Sets and Systems2331-60552331-608X2024-11-017310311910.5281/zenodo.13989148Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs ParametersFlorentin SmarandacheA. TheebaNivetha MartinIn this age of technology, the manufacturing sectors are embracing the elements of industry 5.0 to setup a robust kind of production process. This research work proposes a novel neutrosophic production inventory model encompassing the cost parameters of technology inaddition to the conventional inventory costs. In this model the demand is expressed as function of technology of the form 𝛼𝑒−𝛽𝑡 + 𝛾𝑡 with the coefficients α, β and 𝛾dealing with the initial demand, decrease in demand over time and increase in demand with the adoption of new technology. The neutrosophic model developed in this work addresses the decision circumstances of indeterminacy in addition to uncertainty. The primary objective of this paper is to introduce the notion of technology driven demand and new types of costs associated with technology in a neutrosophic modelling environment. The proposed neutrosophic model is simulated and sensitively analyzed to draw inferences of the parameters over the production quantity q(t). The efficiency of this neutrosophic model is determined on making comparative analysis with crisp data sets. The neutrosophic model possesses high degree of flexibility and applicability in technology dominant manufacturing firms facilitating the decision makers to design optimal solutions.https://fs.unm.edu/NSS/11Theeba_NeutrosophicIndustry.pdfneutrosophic setsinventorytechnology driven demandoptimization |
| spellingShingle | Florentin Smarandache A. Theeba Nivetha Martin Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters Neutrosophic Sets and Systems neutrosophic sets inventory technology driven demand optimization |
| title | Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters |
| title_full | Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters |
| title_fullStr | Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters |
| title_full_unstemmed | Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters |
| title_short | Neutrosophic Industry 5.0 Inventory Model with Technology Driven Demand and Costs Parameters |
| title_sort | neutrosophic industry 5 0 inventory model with technology driven demand and costs parameters |
| topic | neutrosophic sets inventory technology driven demand optimization |
| url | https://fs.unm.edu/NSS/11Theeba_NeutrosophicIndustry.pdf |
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