Inventory model for price-sensitive demand and preservation investment under partial backlogging with low carbon.

In Today's business scenario price-sensitive demand plays an important role. The effect of price is inversely proportional to the demand means that if the price of products increases demand will be decreased. In this paper, we developed a green economic production quantity (EPQ) model that considers carbon emission from production, storage and waste disposal activities, preservation technology investment, inflation, and partial backlogging into the total cost function. Especially, air pollution is becoming a major threat to industries. Due to environmental concern manufacturer incorporates sustainability issues into its production decision model to reduce carbon emissions. The objective of this approach is to develop a sustainable system that focuses on cleaner/ refiner production and the study tries to optimize the preservation technology, cycle time, and total cost function. To exemplify the availability and practicality of the proposed work a numerical example has been provided. Sensitivity analysis is conducted to examine the effect of different values of parameters on the total cost function. [ABSTRACT FROM AUTHOR]