How Much Green Investments Are Efficient for a Smart Production System?

Abstract

The increasing global warming effect on the environment is massive nowadays and the production industry is trying to reduce carbon emission to the minimum level. This study investigates the effect of green investment in a smart production system under the effect of energy. The effect of the green movement is depicted on the customer satisfaction level. The machine produces imperfect products at a random time and gets reworked within the same cycle. The system failure rate relates the imperfect production with reliability. The mathematical model is solved by the classical optimization procedure and found the global optimum solution. Managerial insights are provided to show the applicability of the model. Results find that the carbon reduction due to the green investment and customer satisfaction holds a wide margin of the profit.

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