Sustainable Economic Production Quantity (SEPQ) Model for Inventory Having Green Technology Investments - Price Sensitive Demand with Expiration Dates
Year: 2022
Type: article
Abstract: Carbon emission in environment by the human activities is current key issue globally; the investment in green technology and adoption of government carbon reduction policy will be help to minimize the carbon emission and global warming.In this article, we developed a manufacturer's sustainable economic production quantity inventory model (SEPQ) with green technology investment and selling price-sensitive demand.Furthermore, products have a time varying deterioration rate, which also depends on the expiration date of the products.Set up the production system, manufacturing process, holding inventory, deterioration of products, environmental impact are sources of carbon emissions are considered in proposed model.Carbon tax and cap policy, green technology investment is implemented for achieve sustainability.The main objective of the study is to find optimal replenishment time, optimal green investment and optimal selling price by considering manufacture's profit maximization using classical optimization.A numerical example has studied to validate the sustainable economic production quantity model.Sensitivity analysis has provided with the managerial implication of the optimal feasible solution with respect to some key parameters.Finally, some concluding remarks along with future scopes are discussed.
Authors: KATARIYA DHARMESH, SHUKLA KUNAL
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4296232887