Eco- Conservational Manufacturing Inventory Framework for Deteriorating and Defective Products

Abstract

The framework construction of inventory management is dynamic in nature as it is influenced by the growing inexorableness of the stakeholders. The modeling of inventory control is subjected to certain environmental and quality sustenance restraints. The end product is the resultant of either processing of raw materials or assembling of semi-finished products but existence of considerate proportion of deteriorating and defective items is inevitable but controllable by scrutinizing and selecting the feasible methods of treatment and disposal. As environmental costing is made mandatory in business accounting, environmental costs should be reflected in inventory model and the proposal of eco-conservational inventory frameworks are highly essential at this crucial time of global warming as a reflection of industrial responsibilities towards it. The model that is put forwarded in this paper encompasses various quality promotion and environmental costs parameters and this lays a framework for devising extended versions of eco related inventory models suiting the demands of the environment.