An Application of Time-Dependent Holding Costs and System Reliability in a Multi-Item Sustainable Economic Energy Efficient Reliable Manufacturing System

Mitali Sarkar, Sungjun Kim, Jihed Jemai, Baishakhi Ganguly and Biswajit Sarkar
Additional contact information
Mitali Sarkar: Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Korea
Sungjun Kim: Department of Industrial & Management Engineering, Hanyang University, Ansan, Gyeonggi-do 155 88, Korea
Jihed Jemai: Department of Industrial Engineering, Hanyang University, Seoul 04763, Korea
Baishakhi Ganguly: Department of Mathematics & Statistics, Banasthali Vidyapith, Rajasthan 304 022, India
Biswajit Sarkar: Department of Industrial & Management Engineering, Hanyang University, Ansan, Gyeonggi-do 155 88, Korea

Energies, 2019, vol. 12, issue 15, 1-19

Abstract: Sustainable efficient energy is the key factor of any sustainable manufacturing system. This study addresses a multi-item sustainable economic energy efficient reliable manufacturing quantity (MSEEERMQ) model. The manufacturing system produces defective products during long-runs, where those products may be reworked under the optimum effect of energy and carbon footprint with some costs. As all products are not sold immediately, the holding cost increases based on time. The management decides the system design variable to reduce energy consumption cost and increase system reliability under some time-dependent holding costs, and the optimum energy such that the maximum profit of the production model is obtained with a system reliability as a decision variable. The inflation and time-value of money are considered to calculate the cost of the production model under efficient energy. Using control theory, an Euler–Lagrange method is employed to obtain the sustainable critical path, which gives the optimal solution of the model. There are two lemmas to prove the global optimal solution of the model through the control theory. There is an illustrative example to test the model. Under different conditions there are other two examples with graphical representation and sensitivity analysis. Numerical studies reveal that maximum profit is obtained at the optimal value of the decision variable.

Keywords: energy; sustainable manufacturing system; multi-item production; variable holding cost; inflation; control theory (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.mdpi.com/1996-1073/12/15/2857/pdf (application/pdf)
https://www.mdpi.com/1996-1073/12/15/2857/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:12:y:2019:i:15:p:2857-:d:251464

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().