The green inventory model for sustainable environment that includes degrading products and backordering with integration of environmental cost

Abstract

The classical inventory model traditionally used in inventory management to maximize the profit and minimize the total cost of ordering and holding inventories. In the past few years, many researchers are developed the inventory models with environmental concerns and through integration of environmental cost or green cost. This paper focus on the Green Inventory Model for sustainable environment that includes degrading products and backordering with integration of environmental cost. Stock contains degrading products that degrade at the rate proportional to the level of inventory per unit time and the inventory model takes back ordering for increasing the demand and attract the customers to buy green products. Green product refers to the product that manufactured without affecting environment. The objective of this research is to produce the ecofriendly products which has the maximum profit, minimum waste and loss and reducing the carbon emissions.