A Closed-Loop Sustainable Production Inventory Model for Profit Optimization and Carbon Emission Control

Objectives: To analyze and justify the significance of Rework and Screening technology combined with green technology investments in production inventory model for maximizing profit, minimizing emissions and enhancing manufacturing sustainability. Methods: A Closed loop production inventory model is constructed under two methods namely (i) Model with Screening and Rework technology investment and (ii) Model based on Screening and Rework technology combined with Green technology investment. The proposed methods were implemented to evaluate their effectiveness in maximizing total profit, reducing carbon emissions and enhancing sustainability in production processes by using secondary data from Umakanta Mishra, Jei-Zheng Wu and Biswajit Sarkar’s research. Findings: This study formulates a closed-loop sustainable production inventory model and comparative analysis has been made to study the effectiveness of the models under two categories namely (i) a model incorporating screening and rework technology investment and (ii) a model that integrates both screening and rework technology with green technology investment. A computational example is presented to show the efficiency of the models, and the results shows that the total profit and carbon emission of the system incorporating screening and rework technology is $222.812 and 46.5956 respectively whereas the total profit and carbon emission of the system integrates both screening and rework technology with green technology is $237.291 and 2.7946 respectively. The findings suggest that integrating screening and rework with green technology into a production-inventory model leads to significant improvements in economic performance through cost reduction, while also minimizing environmental impact, thereby enhancing overall sustainability. Novelty: Screening and rework combined with green technology investment are integrated into a production inventory model to optimize profit and emissions, enhancing sustainability and efficiency, yet unexplored in existing literature. 2020 Mathematics Subject Classification: 90B05.