A Sustainable Economic Recycle Quantity Model for Imperfect Production System with Shortages

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dc.contributor.authorAlArjani, Ali
dc.contributor.authorMiah, Md. Maniruzzaman
dc.contributor.authorUddin, Sharif
dc.contributor.authorMashud, Abu Hashan Md.
dc.contributor.authorWee, Hui-Ming
dc.contributor.authorSana, Shib Sankar
dc.contributor.authorSrivastava, H.M.
dc.date.accessioned2021-04-20T18:16:39Z
dc.date.available2021-04-20T18:16:39Z
dc.date.copyright2021en_US
dc.date.issued2021
dc.description.abstractRecycling of products has a great impact on contemporary sustainable business strategies. In this study, a sustainable recycling process in a production-inventory model for an imperfect production system with a fixed ratio of recyclable defective products is introduced. The piecewise constant demand rates of the non-defective items are considered under production run-time, production off-time with positive stock, and production off-time with shortages under varying conditions. Based on the production process, two cases are studied using this model. The first case does not consider recycling processes, while the second case picks up all defective items before sending these items to recycling during the production off-time; the recycled items are added to the main inventory. The aim of this study is to minimize the total cost and identify the optimal order quantity. The manufacturing process with the recycling process provides a better result compared to without recycling in the first case. Some theoretical derivations are developed to enunciate the objective function using the classical optimization technique. To validate the proposed study, sensitivity analysis is performed, and numerical examples are given. Finally, some managerial insights and the scope of future research are provided.en_US
dc.description.reviewstatusRevieweden_US
dc.description.scholarlevelFacultyen_US
dc.identifier.citationAlArjani, A., Miah, M. M., Uddin, M. S., Mashud, A. H. M., Wee, H., Sana, S. S., & Srivastava, H. M. (2021). A Sustainable Economic Recycle Quantity Model for Imperfect Production System with Shortages. Journal of Risk and Financial Management, 14(4), 1- 21. https://doi.org/10.3390/jrfm14040173.en_US
dc.identifier.urihttps://doi.org/10.3390/jrfm14040173
dc.identifier.urihttp://hdl.handle.net/1828/12860
dc.language.isoenen_US
dc.publisherJournal of Risk and Financial Managementen_US
dc.subjecteconomic recycle quantity (ERQ)
dc.subjectimperfect production
dc.subjectinventory
dc.subjectsustainable recycling shortages
dc.subject.departmentDepartment of Mathematics and Statistics
dc.titleA Sustainable Economic Recycle Quantity Model for Imperfect Production System with Shortagesen_US
dc.typeArticleen_US

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