Impact of Circular Economy on Sustainable Inventory Model with Renewable Energy Under Green Environment

Sustainability becomes an effective technique to reduce the effect of global warming on the earth. The concept of green environment encompasses various practices focused on environmental conservation and improved ecological health. These practices include informed consumption, conservation measures, and investments in renewable energies. Circular economy principles are particularly effective in the modern era. This paper introduces a novel approach for demand and profit that are dependent on circularity index. The study encompasses all the mentioned factors and explores their interactions. Specifically, renewable energy is harnessed to reduce costs and carbon emissions, further contributing to sustainability. The primary objective of this paper is to develop a mathematical model that addresses sustainable inventory management within a green environment, incorporating renewable energy resources. To illustrate the model’s effectiveness, numerical example is presented using Mathematica 12.0 software. Additionally, sensitivity analysis is conducted to highlight the model’s key features and the influence of different parameters on the optimal solution.