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International Journal of Mathematical, Engineering and Management Sciences

ISSN: 2455-7749


Sustainable Preservation Strategies with Deterioration Management and Environment Sensitive Demand

Sustainable Preservation Strategies with Deterioration Management and Environment Sensitive Demand

Priyamvada
Department of Operational Research, Faculty of Mathematical Sciences, University of Delhi, Delhi 110007, India.

Shikha Yadav
Department of Operational Research, Faculty of Mathematical Sciences, University of Delhi, Delhi 110007, India.

Aditi Khanna
Department of Operational Research, Faculty of Mathematical Sciences, University of Delhi, Delhi 110007, India.

Chandra K. Jaggi
Department of Operational Research, Faculty of Mathematical Sciences, University of Delhi, Delhi 110007, India.

DOI https://doi.org/10.33889/IJMEMS.2021.6.4.064

Received on November 20, 2020
  ;
Accepted on March 31, 2021

Abstract

Sustainable operations are concerned with the eco-friendly system to postulate intergenerational equity on social, economical, and environmental responsibility. This paper addresses the deterioration with a preservation strategy without compromising the environmental performance of the product. Also, the loss due to deterioration is managed completely with the idea of salvage trade. Furthermore, the upcoming demand is assumed to be “price and environment-sensitive”. This model maximizes the seller’s total profit by optimizing the unit selling price and minimizing the investment to maintain the environmental performance of the product and preservation technology at the same time. A numerical example and related graphs are illustrated to validate the model.

Keywords- Environment sensitive demand, Green preservation investment, Deterioration management, Pricing.

Citation

Priyamvada,Yadav, S., Khanna, A., & Jaggi, C. K. (2021). Sustainable Preservation Strategies with Deterioration Management and Environment Sensitive Demand. International Journal of Mathematical, Engineering and Management Sciences, 6(4), 1089-1099. https://doi.org/10.33889/IJMEMS.2021.6.4.064.

Conflict of Interest

On behalf of all the authors, the corresponding author declares that there is no conflict of interest.

Acknowledgements

The authors would like to convey their honest thanks to the editor and the unknown reviewers for their valuable comments and suggestions to improve the worth of the research paper. The last author would like to thank the University of Delhi, Delhi for funding this work through the Faculty Research Programme (FRP) of the IoE scheme under the grant number IoE/FRP/PCMS/2020/27.

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