Sustainable ordering policies for non-instantaneous deteriorating items under carbon emission and multi-trade-credit-policies

Sunil Tiwari, Waqas Ahmed, Biswajit Sarkar

Research output: Contribution to journalArticle

Abstract

In the current business market, organizations have to work mutually to control the rising level of carbon emission parallel with long-lasting financial benefits. Green inventory management reduces the environmental impacts of a business without lacking its profit. This study demonstrates a fuzzy green inventory model having non-instantaneous deteriorating products which help the organizations for maximization of total annual profit under different conditions of trade-credit-policies along with minimizing carbon for a cleaner environment. The paper discusses all the potential cases, which may occur in green inventory models with carbon emission cost under different allowable delay-in-payments. Here, the demand rate is taken as dependent on selling price. In addition, shortages are allowable and are completely backlogged. The whole profit is calculated from the retailer's perspective. In this model, demand, as well as deterioration rates, are considered as a triangular fuzzy number. The objective has to evaluate sustainable optimal ordering strategies for retailers, which maximize the entire annual profit and minimize the carbon emission. The various possible scenarios are discussed in detail to get the relevant profit of a retailer. The validity of the established model is proved by presenting a numerical experiment. Sensitivity analysis of this study is also exemplified to verify its factual practice.

Original languageEnglish
Article number118183
JournalJournal of Cleaner Production
Volume240
DOIs
Publication statusPublished - 2019 Dec 10

Fingerprint

carbon emission
Profitability
Carbon
Sensitivity analysis
Environmental impact
sensitivity analysis
Deterioration
Industry
Sales
environmental impact
credit policy
profit
policy
Ordering policy
Trade credit
Carbon emissions
Credit policy
Deteriorating items
Profit
market

All Science Journal Classification (ASJC) codes

  • Renewable Energy, Sustainability and the Environment
  • Environmental Science(all)
  • Strategy and Management
  • Industrial and Manufacturing Engineering

Cite this

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Sustainable ordering policies for non-instantaneous deteriorating items under carbon emission and multi-trade-credit-policies. / Tiwari, Sunil; Ahmed, Waqas; Sarkar, Biswajit.

In: Journal of Cleaner Production, Vol. 240, 118183, 10.12.2019.

Research output: Contribution to journalArticle

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