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<p>The circular economy concept has fortified businesses to employ smart production technology in their systems by utilizing advance machines, skilled labour, and recovery mechanisms with a motto to reduce waste and pollution. Nowadays customers emphasize social responsibility in their purchasing decisions; therefore, a product’s circularity has a direct impact on both demand and per-unit gross profit. Consequently, the manufacturer produces sustainable items to help reduce environmental waste by incorporating the circularity index. In this regard, the model implements product recovery by encouraging customers to return the used products via offering an incentive for participation. Subsequently, these used products are inspected and segregated into two categories: recyclable and disposal. Recyclable items are used as raw materials for the new batch of items while disposables are being sold in the secondary market offering both environmental and economic benefits. Additionally, carbon taxation and cap-and-trade legislation are incorporated in the model to ensure sustainability and reduce carbon emissions. Accordingly, a mathematical model is developed to optimize the circularity index and the lot size of the product with an objective of maximizing the total profit of the system. Numerical investigations and sensitivity analysis establish the proposed model’s applicability, as well as some intriguing managerial implications. With regard to the carbon policies, the cap-and-trade strategy outperforms carbon taxation with a financial benefit of 1.74% while reducing the emission cost by 47.79%, for the case of logarithmic demand with an exponential gross profit. Further, special cases have been explored demonstrating the significance of incorporating circularity index and product recovery in the model. The proposed study exhibits superior performance with an increase of 4.84% in demand and 7.18% in the total profit in the case of cap-and-trade policy, as compared to the model without circularity index and product recovery. This underscores the relevance of circularity in improving resource utilization while promoting more efficient and sustainable industrial processes.</p>

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Optimizing circularity index in an emission-controlled smart production inventory system with product recovery

  • 期刊论文

  • 发表日期：

    2025年1月27日

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  • Karuna Mandal,
  • Anjali Gupta,
  • Aditi Khanna

摘要

The circular economy concept has fortified businesses to employ smart production technology in their systems by utilizing advance machines, skilled labour, and recovery mechanisms with a motto to reduce waste and pollution. Nowadays customers emphasize social responsibility in their purchasing decisions; therefore, a product’s circularity has a direct impact on both demand and per-unit gross profit. Consequently, the manufacturer produces sustainable items to help reduce environmental waste by incorporating the circularity index. In this regard, the model implements product recovery by encouraging customers to return the used products via offering an incentive for participation. Subsequently, these used products are inspected and segregated into two categories: recyclable and disposal. Recyclable items are used as raw materials for the new batch of items while disposables are being sold in the secondary market offering both environmental and economic benefits. Additionally, carbon taxation and cap-and-trade legislation are incorporated in the model to ensure sustainability and reduce carbon emissions. Accordingly, a mathematical model is developed to optimize the circularity index and the lot size of the product with an objective of maximizing the total profit of the system. Numerical investigations and sensitivity analysis establish the proposed model’s applicability, as well as some intriguing managerial implications. With regard to the carbon policies, the cap-and-trade strategy outperforms carbon taxation with a financial benefit of 1.74% while reducing the emission cost by 47.79%, for the case of logarithmic demand with an exponential gross profit. Further, special cases have been explored demonstrating the significance of incorporating circularity index and product recovery in the model. The proposed study exhibits superior performance with an increase of 4.84% in demand and 7.18% in the total profit in the case of cap-and-trade policy, as compared to the model without circularity index and product recovery. This underscores the relevance of circularity in improving resource utilization while promoting more efficient and sustainable industrial processes.