A Inflation-Driven Retail Optimization: A Multi-criteria Framework for Carbon Emission Control, Trade Credit, Marketing Investment, and Exchange Policy

Manju  Prasad; Sarla Pareek

doi:10.26713/cma.v17i3.3614

Authors

Manju Prasad Banasthali Vidyapith https://orcid.org/0000-0002-9330-0787
Sarla Pareek Banasthali Vidyapith https://orcid.org/0000-0003-2326-2962

DOI:

https://doi.org/10.26713/cma.v17i3.3614

Keywords:

Price and marketing-dependent demand, inflation, sustainable inventory model, Carbon emission tax, rework, return items, refurbish

Abstract

Now a days sustainable inventory models are in higher demand that is environment friendly and business friendly as well. To consider policies which saves future of environment and is profitable are under consideration. In this paper we solve a deterministic inventory model where the demand is affected by the price and marketing frequency. To reduce wastage the policy of selling new products in exchange of used products collecting used product for a new one, while offering discount. The returned products are then reworked upon and sold as refurbished products. Carbon emission taxes are considered. This study is focused on optimizing profit of retailer under the effect of inflation when credit period is given by the retailer to the customers. The model has been solved and values are obtained using classical Hessian matrix method for finding optimal cycle time, marketing efforts, and the selling price. A sensitivity analysis is done for the same with managerial insights.

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Author Biography

Sarla Pareek, Banasthali Vidyapith
- Sarla Pareek, Prof in Statistics at Banasthali Vidyapith
- She has been former Dean of faculty of Mathematics and computing and Former Head of Department of Mathematics and Statistics at Banasthali Vidyapith.
- She carries an inspiring journey of talent and motivation starting from securing National talent search Scholar throughout her higher education since 1983 to Qualifying ISS 1993 with AIR 03, (Indian Statistical Services Examination with All India Rank).
- She has a vast career spanning over research areas in Applied Sciences, Inventory theory, Supply chain management, Demography, and sampling.
- She is recognised for her work in Inventory and Supply chain management by “AIAP Excellence Award” in 2018 a lifetime achievement award (Association of Inventory Academicians And Practitioners)
- Ma’am has mentored more than 30 students for PHD and 12 students for M.Phil and continues to do so.

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