<p>This article deals with an economic order quantity (EOQ) inventory model with varying numbers of customers and real-time dependent demand under a neutrosophic environment. First of all, we consider a cost minimization classical EOQ model and then solve it by using the calculus approach. But in practice, there exists a competitive atmosphere where some parameters of the model are assumed to be flexible in nature, and they follow the three-valued logic like a neutrosophic set. Thus, considering neutrosophic model, we extend this problem into a matrix game problem. To solve the model, we utilize a new de-neutrosophication method via the max–min approach of the matrix game, followed by a net aggregated score of neutrosophic elements alone. A new solution algorithm has also been developed for numerical computation over a case study dataset. A comparative numerical analysis has been done to show the novelty of the proposed approach under the recent five existing methods on neutrosophic decision-making models. Our findings reveal that the inventory system cost differs significantly with respect to the existing state-of-arts. However, the standard score (z-score) statistical interpretations show, for the cases of the max–min matrix game with aggregation operator, the mean and standard deviation of inventory system cost are assumed to be $1240.64 and $81.78, respectively. But it becomes $1327.51 and $59.97 for the cases of other methods. The corresponding z-scores are −&#xa0;1.975 and −&#xa0;1.245 about the primal (initial) solution. The z-score of the numerical outputs obtained by the new method shows the novelty and hence validates the proposed approach. Finally, the managerial insights, advantages, limitations, and a conclusion have been incorporated, followed by a scope of future work.</p>