Application of preservation technology for lifetime dependent products in an integrated production system

Muhammad Waqas Iqbal, Biswajit Sarkar

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

It is important to adopt precisely the optimum level of preservation technology for deteriorating products, as with every passing day, a larger number of items deteriorate and cause an economic loss. For earning more profit, industries have a tendency to add more preservatives for long lifetime of products. However, realizing the health issues, there is a boundary that no manufacturer can add huge amount of preservatives for infinite lifetime of products. The correlation between the long lifetime along with the price of the product is introduced in this model to show the benefit of the optimum level of investment in preservation technology. To maintain the environmental sustainability, the deteriorated items, which can no longer be preserved by adding preservatives anywhere, are disposed with proper protection. The objective of the study is to obtain profit to show the application through a non-linear mathematical. The model is solved through Kuhn-Tucker and an algorithm. Robustness of the model is verified through numerical experiments and sensitivity analysis. Some comparative analyses are provided, which support the adoption of preservation technology for deteriorating products. Numerical studies proved that the profit increases significantly with the application of proposed preservation technology. Some important managerial insights are provided to help the decision makers while implementing the proposed model in real-world situations.

Original languageEnglish
Pages (from-to)1-28
Number of pages28
JournalJournal of Industrial and Management Optimization
Volume13
Issue number5
DOIs
Publication statusPublished - 2017 Jan 1

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Integrated System
Production Systems
Preservation
Lifetime
Profitability
Dependent
Profit
Sensitivity analysis
Sustainability
Sustainable development
Model
Health
Sensitivity Analysis
Numerical Study
Economics
Numerical Experiment
Integrated production
Industry
Robustness
Experiments

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Strategy and Management
  • Control and Optimization
  • Applied Mathematics

Cite this

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Application of preservation technology for lifetime dependent products in an integrated production system. / Iqbal, Muhammad Waqas; Sarkar, Biswajit.

In: Journal of Industrial and Management Optimization, Vol. 13, No. 5, 01.01.2017, p. 1-28.

Research output: Contribution to journalArticle

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