Abstract: A manufacturing inventory model with shortages with
carrying cost, shortage cost, setup cost and demand quantity as
imprecise numbers, instead of real numbers, namely interval number
is considered here. First, a brief survey of the existing works on
comparing and ranking any two interval numbers on the real line
is presented. A common algorithm for the optimum production
quantity (Economic lot-size) per cycle of a single product (so as
to minimize the total average cost) is developed which works well
on interval number optimization under consideration. Finally, the
designed algorithm is illustrated with numerical example.