Volume 18, No. 6, 2021
Economic Order Quantity Model With Exponential Demand Rate With Carbon Emission
Varun Mohan , Uttam Kumar Sharma , Pervaiz Iqbal , Praveen Kumar
Abstract
The biggest problem to deal with in 21st century is global warming. To control the impact to climatic changes governments have adopted climate friendly process in manufacturing sectors. Therefore it is important to consider the impact of carbon emission in EOQ (Economic Order Quantity) models. In our inventory system we have considered the carbon emission due to holding and deterioration of inventory. With all these presumptions a mathematical model is derived to find the optimal cycle time at which total inventory cost is minimum. To study the effect of change in parameters on total cost, sensitivity analysis is carried out with the help of a numerical example.
Pages: 4053-4063
Keywords: EOQ Model, Exponential Rate of Demand, Carbon Emission, Deterioration.