A multi-item sustainable production inventory constrained model to study and analyse the effective green investment and replenishment quantity

Abstract

In the study of supply chain management (SCM) of bioethanol, it is a challenging problem for the manager to regulate the flow of raw material in the production unit and the finished products in the market. Apart from that, the several other decision-making processes like the implementation of preservation technologies, green investment, ordering optimum replenishment quantities, etc. are some relevant issues which demand a profound industrial framework to lead the decision-making process, especially when we are dealing with multi-items. In our present research we propose multi-item supply chain production inventory model to study the effect of green investment and optimum replenishment quantity on production cost. Preservation cost is a linear function of time. Energy cost and labour cost is considered together with finite energy supply and definite production capacity. In order to solve the model, we apply weighted PSO with statistical verification. We perform sensitivity analysis and provide managerial implication of the proposed model.