Year: 2024
Type: article
Abstract: One of the key concerns in production planning has always been determining the economic lot size. Researchers have been studying this issue for a while, and numerous models have been created to meet objectives with the least amount of expense. This study's objective is to assess a more sophisticated approach to deciding lot size by taking into account the costs associated with emissions taxes (environmental impact). It will be suggested to adopt a framework, called Sustainable Economic Order Quantity (SEOQ), for inventory control in the pump manufacturing industry. For the purpose of assisting decision-makers and policies on inventory issues, this study included a useful numerical analysis as well as a sensitivity analysis. Finally, the experimental findings demonstrated that the suggested models would solve the issues with the lowest possible overall inventory costs.
Author: Ajeet Baraskar
Institution: G H Raisoni University
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404421312