Impact of Energy Consumption in a Production Inventory Model with Price- and Carbon Emission-Sensitive Demand
Résumé
As companies strive to reduce energy consumption and minimize their carbon footprint, there is a growing trend among customers to choose eco-friendly products. In order to address these concerns, the present study puts forth a new economic production quantity (EPQ) model that takes into account various factors such as energy usage, carbon emissions, and market demand in relation to product price and environmental impact. This is achieved through an analysis of the working phases of the manufacturing machine. By maximizing the overall profitability of the system, optimal decisions can be made regarding cycle time, production rate, demand rate, and machine states during non-production phases (standby or powered off). A Mixed integer nonlinear programming (MINLP) problem is proposed and analyzed. A case study demonstrates that meeting customer expectations for sustainable products can lead to lower profits for businesses, but it also results in reduced energy consumption and environmental emissions. The sensitivity analysis demonstrates that market demand, price sensitivity coefficient, and unit production cost have a more substantial impact on profit compared to the other parameters.
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